document: Dov denies bankruptcy Bankruptcy for American Apparel ? A lot of overblown legalese , says CEO Dov Charney . The struggling hipster clothier said in its annual 10-K report this week that it may be forced to file for Chapter 11 as it reported a shocking $ 86 million loss for 2010 amid plummeting sales and dwindling cash . But Charney - who is occupied not only with saving his apparel company but with fending off a number of sex-harassment suits , including one that accuses him of keeping a former employee as a sex slave - told The Post in an interview yesterday that bankruptcy '' `` is n't in the realm of likely possibilities '' '' for American Apparel . '' `` We 're not going bankrupt , '' '' Charney told The Post , although the famously randy clothing designer stopped short of repeating earlier statements to the media that the chances of a Chapter 11 filing were as little as 1 in 1,000 . '' `` This is going to be the year that American Apparel comes back , '' '' Charney added . '' `` I 'm incredibly excited about all of the opportunities in front of us . '' '' Charney cited progress the retailer has made in replacing and training 1,500 workers that were dismissed following a 2009 immigration bust , as well as spring and summer fashions flowing to stores after several seasons of spotty deliveries . Nevertheless , one source admitted Charney 's vocal optimism is making some executives nervous as the company scrambles to line up fresh sources of financing . '' `` Dov 's optimistic , '' '' American Apparel lawyer Peter Schey told The Post yesterday . '' `` You have to be to achieve what he has . '' '' Shares of the company yesterday plunged as much as 27 percent before recovering to close down just 6.6 percent , at 90 cents . In addition to its miserable results , American Apparel said two partners from key lender Lion Capital have left the board .
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