American Apparel Files For Chapter 11 Bankruptcy

Vogue.co.uk reported has just reported that American Apparel has filed for Bankruptcy, after years of struggling to manage its mounting debts. This comes following the ongoing conflict with former CEO Dov Charney, who was fired by the firm last December. Current CEO Paula Schneider is optimistic about the company’s future, as the decision to file for Chapter 11 Bankruptcy has aided in reducing the company’s debt from $300 Million to $150 Million.  Despite his efforts, his strategic changes as well as new operational processes have been publicly criticised by supporters of Charney who are requesting for Charney be reinstated as the CEO of American Apparel. Read the full story….

What Is Chapter 11 Bankruptcy?

According to uscourts.gov a Chapter 11 Bankruptcy applies to organisations, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganisation to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11.

American Apparel Files For Bankruptcy

American Apparel Files For Bankruptcy

AFTER a tumultuous year and a half,American Apparel has filed for bankruptcy, it was revealed last night. Ongoing conflict with former CEO Dov Charney – who was fired by the firm last December – has kept the ailing retailer in the headlines as it has struggled to manage its mounting debts. By filing for Chapter 11 bankruptcy, the company is said to have slashed the debt from $300 million to $135 million, a move that it hopes will enable it to start rebuilding the brand.

“This restructuring will enable American Apparel to become a stronger, more vibrant company,” said CEO Paula Schneider, reports WWD. “By improving our financial footing, we will be able to refocus our business efforts on the execution of our turnaround strategy as we look to create new and relevant products, launch new design and merchandising initiatives, invest in new stores, grow our e-commerce business and create captivating new marketing campaigns that will help drive our business forward.”

Dov Charney Former CEO American Apparel

Dov Charney Former CEO American Apparel

Schneider, who was appointed in the wake of Charney’s exit, has implemented a number of strategic changes as well as new operational processes that have been publicly criticised by supporters of Charney who have held a number of rallies calling for the controversial former CEO to be reinstated. All eyes will be on the company moving forward to see if its new tactic wil reverse its fortunes.

Source: Vogue.co.uk

Link To Article: http://www.vogue.co.uk/news/2015/10/05/american-apparel-files-for-bankruptcy

#Hot |ViralVideo I’m The One – Menvu #MetamoorphosisMixtape #promo #2015 @Menvuu

Making waves with her debut mixtape  Meta-Moor-Phosis, Menvu releases her second video titled “Iam The One” also featured on that mixtape.

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Childish Gambino Booed Offstage In Australia; Rapper-Singer’s Team Reacts

Childish Gambino

Childish Gambino

A member of Childish Gambino’s team issued a statement regarding the concert in which he was booed off stage.

According to hiphopdx.com, Childish Gambino’s team sent an e-mail inviting fans who attended the rapper-singer’s Newcastle, Australia show in which he was booed to the Listen Out Festival in Sydney, according to Entertainment Weekly.

He is scheduled to perform a full-band set at Listen Out Festival this weekend.

Childish Gambino’s Newcastle appearance was supposed to be a deejay set, information that wasn’t shared with the public, the Entertainment Weekly story says.

“Regardless of whose error in communication that was,” a source told Entertainment Weekly, “Gambino’s team takes it very seriously when fans are disappointed.”

(The original post in this thread ran October 2, 2015. It is as follows.)

Childish Gambino had a performance at the Cambridge Hotel in Newcastle, Australia this week and was booed off-stage, The Sydney Morning Herald reports.

The rapper sat on-stage for 40 minutes before performing. He started his set and while singing a song, the crowd started chanting obscenities and he left the stage. Gambino‘s deejay played “3005” and the crowd rushed the stage, hoping for the rapper’s return, which did not happen. Attendees asked for refunds for their ticket purchases.

The venue’s Facebook page posted an apology yesterday (October 1) for the show.

“To everyone who came to see Childish Gambino show last night we are as disappointed as all of you,” the statement reads. “We had the opportunity to present Childish Gambino to Newcastle in an intimate gig and we jumped at the chance as we aim to bring the best possible acts to Newcastle for music lovers. As seen last night, unfortunately we have no control over the acts performance once on stage. For those that aren’t aware, Canberra and ourselves were 2 additional Childish Gambino shows that were promoted in the exact same way as part of his current tour and we were extremely excited to be presented with this opportunity. Subsequently he didn’t deliver on what was billed and expected by everyone, including us. The Cambridge strives to deliver Newcastle the highest quality live music possible and we will continue to do so. Like you, we were equally excited to present the act and its only matched by the disappointment in the performance by the act.”

Childish Gambino was a no-show at Hot 97’s Summer Jam this year.

Source: hiphopdx.com

Link to article:  http://hiphopdx.com/news/id.35723/title.childish-gambino-booed-offstage-in-australia