And it never ends for Dov Charney. Now there's a chance that the CEO's company, American Apparel, will be delisted from the New York Stock Exchange if it doesn't get its shit together by August 16, 2010.
As previously reported, the company owes a crapload of money to investment firm Lion Capital, and the loan is past due. It's trying to work something out with Lion Capital, all the while keeping the NYSE's regulatory bodies at bay.
Here's the thing: I shop at American Apparel. A lot. I'll be bummed if the stores close down altogether. It's frustrating to see a person let his ego get in the way of good business. I'm downright angry with Charney and his team for screwing this all up. When you run a public company, you live by a different set of rules. And they're not made to be broken.