American Apparel Explores Restructuring Options

American Apparel is exploring its restructuring options with the help of law firm Skadden, Arps, Slate, Meagher & Flom, according to the Wall Street Journal.

The news comes on the heels of the brand's disappointing January comp store results, with sales dropping 5 percent, although wholesale orders rose by 7 percent. This is in stark contrast to 10 percent sales growth in January 2013.

Saddled with $240 million in debt, American Apparel's stock currently trades for roughly $1.
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