The company is sinking like a stone. That have a 1/4 billion in debt and have not been able to keep up with their interest payments. Same store sales were down 5% in December from the previous year. These are difficult times for traditional retailers, online sales is destroying the weaker players and APP is one of the weaker players. Plus, clothing retailers are cyclical - every dog has its day but it doesn't last forever because they appeal to teens and millennials, who are a fickle group when it comes to style.
Because once again they are on the brink of bankruptcy.
They hired a law firm today that specializes in restructuring (aka: bankruptcy).
-Maybe the "bottoms" fell out of One of Their Underwear lines !! ;)
I was curious why it dropped all of a sudden.
