American Apparel Eyed By SEC Over “Almost Bankrupt” Emails

American Apparel “almost went bankrupt” before Xmas according to internal emails allegedly stolen from CEO Dov Charney’s porn-based advertising/clothing empire.

This email is AA CFO Adrian Kowalewski explaining to AA pr man Ryan Holiday why he has been unresponsive to press requests for comment:

>—-— Original Message —-—
>From: Adrian Kowalewski
>To: Ryan Holiday
>Cc: Candace Keene
>Sent: Wed Dec 24 13:33:04 2008
>Subject: Re: Solution
>
>
>1. We almost went bankrupt last Friday. I’m sorry but I was busy with that
>for the last several weeks.
>2. I’ve been sick and occupied with other company matters since Friday
>because we’re hardly out of the woods on #1.
>3. It’s the holiday.
>
>If you want to handle these questions and it’s only 15 minutes then please
>go ahead.

Naturally, the SEC is interested in why a company claiming a 10 percent Q4 sales gain is also on the verge of bankruptcy.

Read Full Article