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American Apparel filed for bankruptcy again after its plan to rebound 'completely failed'

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American Apparel filed for bankruptcy for the second time in a little more than a year.

Gildan Activewear will acquire assets and inventory from American Apparel for roughly $66 million, The Wall Street Journal reports.

American Apparel exited court protection earlier this year but did not stay financially stable for long. The store said it hopes to stay in business, but having filed for bankruptcy twice and with $215 million in listed debt, its future is unclear. 

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FILE - In this Dec. 11, 2003 file photo, Dov Charney, senior partner of American Apparel, announces he will shutter his garment manufacturing plant that employs some 1,500 workers, in observance of a scheduled Dec. 12 economic strike by Latinos, at a rally at Los Angeles' downtown Plaza. As of Friday, June 27, 2014, the ousted CEO has increased his stake in the clothing chain to nearly 43 percent as he fights to keep control of the company he founded. Previously, his stake was 27 percent. (AP Photo/Reed Saxon, File)

A history of controversy

American Apparel made headlines long before the bankruptcy struggles. In 2014, then-CEO Dov Charney was fired after being accused of sexual harassment. 

Swimsuits in September


After it filed for bankruptcy the first time, business strategy problems were also exposed, like advertising swimsuits in September. The strategy to rebound after the first bankruptcy "completely failed," chief restructuring officer Mark Weinsten said. 

American Apparel already placed its British stores into the U.K.'s equivalent of chapter 11 bankruptcy protection earlier this month, the Journal reports.

Some fans found a silver lining.

Others had no sympathy.

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American Apparel filed for bankruptcy again after its plan to rebound 'completely failed'

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