By Deborah Belgum | January 26, 2017
As American Apparel is shuttering its downtown Los Angeles clothing factory and laying off thousands of workers, hedge-fund investor Standard General is suing the various lenders that bailed the garment company out of bankruptcy for the first time last year.
Just days after American Apparel was cleared to exit bankruptcy, the troubled Los Angeles clothing maker filed its third-quarter earnings results showing the company is bleeding money.
Dov Charney Responds to the Bankruptcy Court Decision
Boston Proper, the multichannel retailer owned by Chico’s FAS Inc., has been acquired by Los Angeles–based private-equity investment Brentwood Associates for an undisclosed amount.
The results are in. Holiday sales are up 3 percent over last year.
Finance One opened its first international branch last fall in Shanghai after a five-year process to secure new business partners in China and ensure that the Los Angeles–based factor has done its due diligence regarding international laws and regulations for overseas trade and financing.
Financial gurus and pundits agree that 2016 will probably be an economic twin of 2015. There will be slow but steady growth and unemployment will remain low.
CIT Group Inc., a provider of commercial lending and leasing services, announced that Marc Heller will be the new president of CIT Commercial Services, a major factor in the apparel industry.
Iconix Brand Group, which owns a number of labels started in California, announced on Dec. 28 it received a formal order of investigation from the Securities and Exchange Commission.
2015: Year in Review
As 2015 draws to a close, the editors of California Apparel News take a look at several key economic indicators to assess how California’s fashion industry navigated the slowly recovering economy over the past year.
The largest clothing factory in the United States had a mountain of debt that pushed it into bankruptcy court in October, filing for Chapter 11 protection.
The people and events that made the news in 2015.
It was a topsy-turvy year for Joe’s Jeans, the Los Angeles premium-jeans maker launched in 2001 by designer Joe Dahan.
The long-awaited moment may be here. The U.S. government is expected to boost federal interest rates this month.
Classic styles with a touch of fashion have been the mainstay of J.McLaughlin, a small specialty-store chain founded in New York by two brothers in 1977.