Next Level Apparel, based in Torrance, CA, said its founder, Joe Simsoly, had been appointed interim CEO following the departure of Randy Hales.
Hales became co-CEO with Simsoly in November 2020 before taking over as the sole CEO when Simsoly retired in August 2021. Next Level Apparel is primarily known for its promotional blank apparel.
During his term as interim CEO, Simsoly will be “focusing on strong production and operations structure” and getting “back to the basics” of the brand’s reputation, Eric Simsolo, his son and VP president of business development at Next Level Apparel, told Advertising Specialty Institute.
In mid-August, S&P Global Ratings lowered the debt ratings of Next Level Apparel due to the elevated risk of default after the company disclosed that it had agreed with its lender group to waive its financial covenant for the second quarter ended June 30, 2023 through September 30, 2024.
Photo courtesy Next Level Apparel
