Charney and backers, Hagan Capital Group and Silver Creek Capital, had made a $300 million for the company, which was rejected by American Apparels board. The proposal would have brought back Charney, who was fired as CEO in 2014 after allegations of misconduct.
In his testimony in bankruptcy court last week, Charney accused company executives of plotting against him to block his return and said he was being forced to hand over his company.
According to the New York Times, Judge Brendan L. Shannon of the Bankruptcy Court in Delaware on Monday said the deal offered by Charney and his supporters doesnt provide sufficient reason to reject the companys creditor-approved plan.
Charney told the Times he was obviously disappointed by the judges de…
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