(Reuters) - American Apparel Inc founder Dov Charney, who was fired as the maverick retailer's chairman last week, said he wants to talk to the company about shaking up its board and management.
Charney, the largest shareholder in the company with a 27.2 percent stake, said in a regulatory filing on Monday that he had been approached by "certain persons" who had expressed support for his continued leadership. (http://1.usa.gov/1iyOA2G)
Charney said his supporters included stockholders.
Independent directors of the company have rejected a demand to meet and reinstate Charney, a source told Reuters.
An American Apparel spokesman declined to comment.
The company's shares as much as 5.4 percent in early trading on Monday.
American Apparel's board ousted Charney as chairman and suspended him as president and chief executive on June 18.
The board cited his alleged misuse of company funds and role in disseminating nude photos of an ex-employee who had sued him.
Charney's lawyer has already sent a letter to American Apparel threatening legal action should 45-year-old Charney not regain his executive positions.
American Apparel said on Monday it had hired investment banking advisory firm Peter J. Solomon Co to ensure adequate access to capital.
The company said last week that Charney's ouster could result in the 250-store chain breaching debt covenants.
"We believe the hiring of a financial and strategic advisor at this important juncture is in the best interest of our stockholders...," interim CEO John Luttrell said in a statement.
American Apparel, which has reported losses in 16 of the past 17 quarters, had long-term debt of about $215 million as of March 31.
Montreal-born Charney's removal as CEO and president takes effect on July 18.
Charney said he intended to engage in discussions with the management and the board on matters related to board composition, management, operations, business, financial condition and strategic plans, among others.
Shares of the company, known for its often racy billboard ads that feature scantily clad young women, were up less than 1 percent at 69.3 cents after about 40 minutes of trading.
The Los Angeles-based retailer's shares have fallen 65 percent in the last 12 months.
(Reporting by Shailaja Sharma in Bangalore; Editing by Sriraj Kalluvila and Ted Kerr)
