June 23 American Apparel Inc's
co-chairman said the company was not for sale and that the
search for a new chief executive to replace ousted Dov Charney
had generated "enormous interest."
American Apparel's board terminated Charney, the company's
founder, as chairman and CEO last week, citing alleged misuse of
corporate funds and his role in disseminating nude photos of an
ex-employee who had sued him.
Allan Mayer, the company's new co-chairman, also told
Reuters that American Apparel did not need immediate capital.
"We are certainly not looking to sell the company," he said.
"If someone came and said they want to buy American Apparel for
$10 per share, we'd be crazy to not listen ... but by no means
looking to sell now."
American Apparel shares were trading at 67 cents shortly
after midday on Monday.
(Reporting by Shailaja Sharma in Bangalore; Editing by Ted