Dov Charney's Stake In American Apparel Way, Way Down

Illustration for article titled Dov Charneys Stake In American Apparel Way, Way Down

CEO Dov Charney has reported a lowered stake of 45.6 percent in the company, after a recent stake sale to a group of private investors.

Advertisement

As of March 24, Charney had a stake of 56.8 percent in the company he founded, according to regulatory filings:

The clothing chain, known for its racy advertising and "Made in U.S.A" clothes, raised $14.9 million earlier in the month by selling a 20 percent stake to a group of private investors led by Canadian financier Michael Serruya and Delavaco Capital — a much needed infusion for the company that was facing a bankruptcy threat.

Shares of American Apparel closed down 6 percent at $1.45 on Friday on the American Stock Exchange.

Advertisement

UPDATE 1-Dov Charney reports lower stake in American Apparel [Reuters]

Share This Story

Get our newsletter

DISCUSSION

overthatrainbow-old
OverThatRainbow

Ugh. Could you guys please do me a favor and start using a different stock pic of this asshole? Because for some reason, this one makes me want to hate-fuck him. And I don't like feeling that way.