American Apparel LLC, the U.S. teen clothing retailer known for its sexually suggestive advertising, has hired investment bank Houlihan Lokey Inc to explore a sale, Reuters reported yesterday. The sale process comes just six months after American Apparel emerged from chapter 11 protection, following the public ouster of its controversial founder and chief executive officer, Dov Charney, and a string of losses that the company has struggled to reverse. When contacted for comment, Charney said he would have to see what the asking price for his old company is before considering making a bid. Charney, with support from investors that included Hagan Capital Group and Silver Creek Capital Partners, had mounted an unsuccessful $300 million bid for American Apparel in January.
