Timeline: The American Apparel saga continues with whispers of a sale

American Apparel has found itself under the spotlight once more, as news emerges that its new owners and former creditors have hired investment bank Houlihan Lokey to investigate options for a sale.

A potential sale would come six months after the LA-based retailer exited its Chapter 11 Bankruptcy and kicked started its restructuring scheme, which included a number of executive changes in its board, the firing of even more employees, a potential outsourcing of production and expansion of its product categories.

However, despite all the changes introduced under the leadership of American Apparel's new CEO, Paula Schneider, the fashion retailer has still struggled to turn around falling sales and cut losses. American Apparel has seen its fair share of ups and downs over the last 2 and half years, since the dismissal of its founder and former CEO Dov Charney. FashionUnited has pulled together the unfurling events which have taken place then below.