The US-based retailer has seldom been out of the headlines over the last two years, after experiencing difficulties getting the brand back on track following its lengthy battle with former owner and founder Dov Charney. So far, Charney hasn't been approached about buying his former business.
"I have no idea what the proposition is so I don't know if I'd be interested or not," he told WWD yesterday. "There's nothing else I would say. I've heard about it. No one's approached me. I don't know what the terms are."
In April this year, current CEO Paula Schneider announced that the company was undergoing a "redesign of our production process" after "months of careful and rigorous review" resulting in redundancies. She also hinted that as a part of the shake-up, production may be exported, as opposed to being made in Los Angeles - something which was a cornerstone of Charney's original business plan.
Yesterday, Charney - who announced his plans to create a "basics brand for men and women that will be manufactured entirely in the US and will begin with a focus on developing the wholesale channel" in February - was vocal in his critique of the way that the company has managed its position.
"In December 2015, I submitted a $525 million indication of interest, and now less than a year after they went bankrupt, they're struggling and trying to sell the company," he said. "That I find astonishing. They've stripped the company of its assets. They've fired all the creatives with a brutal corporate control battle. They've lost hundreds of workers. It's astonishing."
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