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American Apparel, Los Angeles, will continue with its reorganization plan after U.S. Bankruptcy Judge Brendan Shannon ruled in favor of the company in court today.
This means that American Apparel will become a private company, and place nearly 100 percent of its control to its largest bondholders. Shareholders, including founder and former CEO Dov Charney, who contested his former company's plan, will be left with nothing.
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Brendan Menapace
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Brendan Menapace is the content director for Promo+Promo Marketing.
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