American Apparel hasn't been selling enough lace leotards to pay the bills lately, and bankrupcy is around the corner. According to financial reports and CEO Dov Charney, the company is in heaps of debt, lost close to ninety million in 2010, and has thirteen lawsuits to deal with. They have less than ten-million dollars to their name, which to you and me may seem like plenty, but American Apparel is a big company with a lot of hoodies and body suits to make and ten mil doesn't cut it.
Charney has assured anyone who really cares and is willing to believe him that bankrupcy isn't imminent, or even likely — he calculates the odds of going broke at "not even a one-in-one-thousand chance" — though I'm certain even he doesn't believe that. Anyone with basic adding and subtracting skills can see that his company is in serious trouble. Well, Dov, if the T-shirt business is too tough, you could always round up all those photographers and models and move on to your true calling: books of (not so) tasteful nudes.