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American Apparel is Preparing to File for Bankruptcy for the Second Time in Two Years

American Apparel Inc., a casual clothing brand known for the domestic production of its products, is preparing to file for bankruptcy protection. This would be the second time the company filed for bankruptcy in two years. Its most recent bankruptcy was filed in October 2015 and by February 2016, the company emerged under new ownership by Monarch Alternative Capital. With this new leadership, the company refocused on its basic items and sought restructuring guidance from Berkeley Research Group.

These changes could not save the company's bottom line, though, and again the company is looking to restructure itself through bankruptcy. With American Apparel, like many other poorly performing companies, there is not just one issue hurting profits. American Apparel is competing in a crowded, changing sphere of the market while attempting to tackle its internal problems, such as the dismissal of its CEO following a misconduct scandal in 2014.

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