Can American Apparel re-build and retain cool factor?

Seeing in the New Year might not have been the only reason American Apparel felt like popping the champagne last week after it won a plea for an extension to its period for filing a reorganisation plan. But while now on a cautious road to recovery, the bankrupt US teen fashion retailer may have stopped short of celebrating as it considers the questions that need answering if it is to be taken seriously again as a competitor in its space.