LOS ANGELES (AP) — An investor group wants to buy American Apparel for about $300 million and bring back the clothing chain’s founder and former CEO Dov Charney.
Charney was fired from American Apparel in 2014 following allegations that he had violated the company’s sexual harassment policy. Charney denied those charges.READ MORE: Pelicans Top Clippers Again, 123-104; Valanciunas Scores Career-High 39,
The investors, Hagan Capital Group and Silver Creek Capital Partners, said Monday that they have submitted a bid.READ MORE: Chanukah Celebrations Stress Message Of "Light Over Darkness" In Trying Times
American Apparel said in a statement Monday that it evaluates all bids and that it is focusing on emerging from bankruptcy protection. The Los Angeles company filed for Chapter 11 bankruptcy protection in October.
Hagan Capital Group and Silver Creek Capital Partners say Charney has a business plan that would improve American Apparel, which has faltered since he left.MORE NEWS: Authorities Investigating Fatal North Hollywood Shooting On Monday Evening
(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)