American Apparel

American Apparel Plans to Close down Its Underperforming Stores

American Apparel Plans to Close down Its Underperforming Stores

Struggling teen clothing retailer American Apparel revealed a restructuring plans to reduce costs. The company also warned that it could be quite tough for it to meet funding requirements within coming 12 months.

The company, which is being sued by founder and former CEO Dov Charney, said on Monday it would cut jobs and close stores to slash costs by about $30 million over the next 18 months.

Schneider has made several changes in the company since it took the charge in January. Some major changes include revamping its edgy and oft-maligned marketing strategy, remaking the organization's management structure, and bringing in more stringent forecasting and budgeting processes.




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