Beleaguered downtown apparel maker and retailer American Apparel Inc. has been notified that it risks being delisted from the New York Stock Exchange.

The company said Friday it had received a letter from the exchange saying it was not compliance with guidelines because “it has sustained losses which are so substantial in relation to its overall operations or its existing financial resources … that it appears questionable, in the opinion of the exchange, as to whether the company will be able to continue operations and/or meet its obligations as they mature.”

American Apparel has until Nov. 15 to come into compliance and must submit a plan by Oct. 9. If the plan is approved, the exchange will continue monitoring the company and review its progress on executing the plan, the filing said. If the company doesn’t submit a plan or if the exchange deems the plan unacceptable, it will start the delisting process.

In a securities filing, the company said it was reviewing the exchange’s issues and has started preparing a plan on how to return to compliance. However, it added, there is no assurance that it will be able to submit a plan that addresses all problems and concerns the stock exchange has raised.

Shares of American Apparel closed at 14 cents today, down 12.5 percent from Friday’s close. Due to its low price, the NYSE told the company that its stock may not be able to be traded on the market and that the company should conduct a reverse stock split.

Adding to its troubles with the exchange, the company disclosed in the SEC filing that it has not been paying its listing fees. It has until Nov. 7 to pay them or the exchange will cite it for noncompliance.