19 Aug 2010

US firm part-owned by Hart doubts it will survive

10:02 am on 19 August 2010

The Los Angeles-based retailer says its debts have risen to more than $US120 million.

The retailer says there's substantial doubt the company will be able to continue trading as a going concern.

Shares in American Apparel plunged 26% in the US on Tuesday, to close at a record low.