Investors who back Dov Charney have made a bid of $300 million for the bankrupt retailer.
The company is so mad at founder Dov Charney.
The clothing company sued the ex-chief executive officer in May for violating the terms of an agreement.
Dov Charney's efforts to return to the company he founded continue with a new lawsuit filed against Standard General, the hedge fund overseeing American Apparel.
Dov Charney, the founder of American Apparel, told Bloomberg News that he's "down to" his last $100,000 and sleeping on a friend's couch. How is that possible?
Ousted CEO Dov Charney told Bloomberg News that he's been living on the Lower East Side on a friend's couch. He also plans to "sue everyone," as per the report. Updated with comment from Standard General.
More than 30 employees signed a letter to American Apparel's board in support of Dov Charney, who was officially fired Dec. 16. The letter, in full, is below.
The retailer's board will mostly be replaced as Standard General lends up to $25 million to the company. There's a still a chance Charney could return as CEO.
"You're on your own, buh-bye, thank you," Charney said when contacted by BuzzFeed for comment.
It doesn't look as though Charney will be returning as the CEO of American Apparel any time soon, but he's found a way to get some of what he wants.
Sources dismiss reports the company is up for sale. They say the newly surfaced video of Dov Charney dancing nude with a potential employee wasn't part of the board's decision.