Ousted founder Dov Charney is looking for a way back into American Apparel. The former CEO is looking to regain control of the company with the help of Jay Schottenstein. Schottenstein, head of SB Capital Group and Schottenstein Stores Corp. and chairman of American Eagle Outfitters Inc., is an industry titan. Word has it, the two of them have been in talks. Charney has also possibly spoken to other potential investors.
With shareholders’ best interest in mind, it’s tough to tell what the board at American Apparel will decide. An acquisition is just what they might need.
Dov hasn’t given up and is gung-ho about getting American Apparel back in his control. Will Dov reign atop his clothing empire again?