- Vivian Hendriksz |
A week after Los Angeles-based fashion retailer American Apparel confirmed a possible takeover bid, rumours have emerged the retailer has hired investment bank Moelis & Co. to investigate strategic options for the company's future.
According to WWD, sources familiar with the matter Moelis & Co. will review the retailer's current capital structure whilst exploring interest from potential buyers. A new owner could usher in a new stage for the struggling fashion retailer, whp has found itself in the media spotlight several times over the past months.
The appointment also comes as American Apparel is working out a new leadership scheme, following the exit of its controversial CEO Dov Charney earlier this month, who had been serving as a consultant to the retailer and is said to be seeking damages from his former employer of over 100 million dollars. Fashion veteran Paula Schneider will take over as the retailer's new CEO as of January 5, 2015.