If the financial news cycle is any indication, the death knell ringeth for American Apparel. Or at least a potential bankruptcy knell, that is (what is a knell, anyway?) which can only mean bad news for its downtown L.A. workforce. American Apparel’s second-quarter earnings report has yet to see the light of day (a prelim report did not include all-important net income and earnings per share), compelling the New York Stock Exchange to send a Monday letter warning Charney and Co. that they’ll face possible delisting if they don’t get their ducks in a row by November 15.
Writers everywhere are busy penning snarky obituaries. Justifiable glee? Not really. A lost job is a lost job, no matter how pervy the man in the corner office may be. And while most American Apparel ads still give us the bodily reflex one usually experiences while passing a medium-to-large kidney stone, we haven’t forgotten the company’s pro-immigration reform and pro-gay rights platforms, as evidenced by these T-shirts. Self-serving statements, perhaps. But better than none at all. Plenty of competitors are too busy churning out comparable product in South Asian sweatshops to take a similar stand.
