If American Apparel gets the bankruptcy turnaround it envisions, the fashion chain will soon have its most profitable years ever, according to court documents filed on Thursday, Reuters reported. The company projected in a court filing that it would return to profit in 2018, its first money-making year since 2009. By 2020, the company projected a net profit of $23.7 million, well above its previous peak in 2007. The company warned in the court filing that ongoing legal battles with Dov Charney, the founder who was fired as chief executive last year, remained one of the risks to its future. The company accused Charney of orchestrating protests at its headquarters and said that he could undermine the company’s ability to hire staff and executives. Separately on Thursday, American Apparel sought to reassure suppliers and other creditors that they were key to its future, even though they were going to get next to nothing on what the company owes them.
