American Apparel May Receive $80 Million from Soros' Firm

By Kyle A. Richardson

Billionaire investor and philanthropist George Soros may be behind a deal that could extend $80 million in credit to American Apparel. As reported by the Los Angeles Business Journal on Monday, a finance company backed by Soros' hedge fund is in talks with the Los Angeles-based apparel supplier to replace and increase its line of credit, currently provided by Bank of America.

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Kyle A. Richardson Author's page

Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.