The Canadian investors who pumped $15 million into American Apparel last April is having a serious case of buyer's remorse.
According to WWD, Michael Serruya filed paperwork with the SEC on Tuesday that would allow the group of investors to sell their shares — all 43.2 million of them.
And to think Serruya was praising Dov Charney only 4 months ago.
[Image via Ramey Pix.]
Tags: american apparel, dov charney, investors, michael serruya, sec, sell, shares
Remember that little rumor about possible investors wanting to kick American Apparel CEO Dov Charney to the curb?
Welp, apparently that couldn't be further from the truth. In fact, AA's newest lifeline claims Dov was the number one reason why he invested into the struggling clothing company.
Michael Serruya, a private investor from Canada, said of his $15 million investment:
"I think American Apparel is a tremendously strong brand and Dov is a remarkable visionary and entrepreneur. I think he is one of the top trend-setters in America today. I think given the proper resources, American Apparel has the ability to really deliver results."
We hope you're right, Mikey.
[Image via AP Images.]
Tags: funds, investors, michael serruya, private investor