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"American Apparel is unique because they’re on the cusp of a total collapse," says Howard Davidowitz, chairman of the retail consulting and investment banking firm Davidowitz & Associates. Today, MSNBC reports that the T-shirt company—recently plagued with a spate of complaints about its hiring practices—reported a quarterly loss four-times greater than the same period last year, and "risks defaulting on a credit agreement." [MSNBC]