American Apparel Hires Former Blockbuster CFO As Acting President

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Photo: American Apparel

Thomas Casey, who jumped ship from Blockbuster just three weeks before the company announced its bankruptcy in September, will be charged with the momentous task of helping American Apparel repay its $80 million loan to investors by September 2013. Dov Charney said in a statement that he’s “excited” to have Casey on board: "Tom's team-building skills, strategic perspective and senior management experience will help us build a great future for the company.”

The hire has gotten a lukewarm response from industry insiders. "The company really needs a retailer,” a source told the Post, pointing out that other than Blockbuster, Casey's background is mostly in banking. While Charney fends off class action lawsuits and accusations that he discriminates against ugly people, somebody's got to be watching the leotard sales.

New CEO for American Apparel [NYP]

Earlier: American Apparel Saved from Bankruptcy