7 :: American Apparel
The once-hip retailer reached the brink of bankruptcy earlier this year. It currently trades as a penny stock. Store sales have declined and the firm likely will continue to post losses. American Apparel is under gross margin pressure because of the rise in cotton prices. The retailer raised $14.9 million in April by selling shares at a discount of 43% to a group of private investors. It does not help matters that the company's founder and CEO, Dov Charney, has been a defendant in several lawsuits filed by former employees alleging sexual harassment.
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