American Apparel appoints new chairwoman and confirms acquisition bid
Less than a week after American Apparel fired founder Dov Charney after suspending him in June and hired a new CEO, the retailer has announced that Colleen B. Brown will now be joining the company as the new chairperson of the board.
The news of Brown's appointment was also coupled with the confirmation – reported by Buro 24/7 earlier this week – that American Apparel received a buyout bid from Irving Place Capital, a private equity group that features Rag & Bone and 7 for All Mankind in its company portfolio.
Brown will be replacing Allan Mayer and David Danziger – who took over as co-chairmen of the board when Charney was on suspension – with both of them staying on the board.