American Apparel Delays FilingTuesday, March 18, 2014
American Apparel Inc. on Tuesday said it would be late filing its year-end report with the U.S. Securities and Exchange Commission because the company needs to focus on more urgent issues and that its changing situation could affect its annual report.
After the markets closed, the Los Angeles clothing maker, which has 75 days to file after the end of its 2013 fiscal year, said in a regulatory filing that it was working on a compliance plan to retain its stock listing on the small cap NYSE Mkt exchange. That plan is due Friday.
American Apparel also is working with advisers to restructure its debt and find other financing alternatives. The company also said that some of the proposed changes could lead to changes in disclosures in the annual report.
The company said in the filing that expects to report a full-year net loss of 95 cents a share on revenue on $634 million.
Shares earlier closed up 5 cents, or 7 percent, to 78 cents, and were unchanged in after-market trading.