American Apparel Tests New Ideas To Reverse Sales Slide
American Apparel has new plans in motion to move the company out of the red.By Leah Becerra | July 6, 2015
American Apparel announced Monday it plans to save $30 million over the next year and a half by cutting staff and closing underperforming locations.
The company's struggles began after it hit its highest stock peak in 2007. Since then, its performance has been less than pleasing for investors.
In a press release, the company also said, "There can be no guarantee that the Company will have sufficient financing commitments to meet funding requirements for the next twelve months."