American Apparel Inc. (Los Angeles), the struggling specialty retailer, has missed the filing deadline for its annual report with the Securities and Exchange Commission.
According to Women’s Wear Daily, the company notified the SEC on Tuesday that it had missed its Monday deadline, which was 75 days after the end of its fiscal year, on Dec. 31, 2013.
American Apparel explained that it was focusing on putting together a plan to regain compliance with the listing standards of the NYSE MKT exchange. The exchange has given the retailer until Friday, March 21, to file a plan to regain compliance, and by April 15 to show progress toward meeting that plan.
American Apparel said it had “devoted considerable resources” to develop a plan of compliance for the NYSE MKT and was “pursuing financing alternatives as a means to increase the company’s available cash to fund debt service requirements and operational needs.”