American Apparel

American Apparel Debt Talks Continue, Advance Beyond Rumor
September 6, 2011

The previously reported talks of American Apparel negotiating with various investors in order to restructure its debt have advanced beyond the point of rumor. Bloomberg reported that the company has been approached by several investors since its sales have improved, and that the discussions have included the possibility of CEO Dov Charney stepping aside as chairman in order to focus on day-to-day operations of the company.

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American Apparel's In-house Guru Shows a Lighter Side
August 31, 2011

When author Robert Greene wrote his bestselling book "The 48 Laws of Power," his win-at-all-costs message turned him into a cult hero with the hip-hop set, Hollywood elite and prison inmates alike.

Crush your enemy totally, he wrote in Law 15. Play a sucker to catch a sucker, he said in another. Get others to do the work for you, but always take the credit.

Greene's warrior-like take on the quest for power, written more than a decade ago, would eventually attract another devotee: Dov Charney, the provocative chief executive of Los Angeles clothing company American Apparel Inc.

Rumor: Offer on Table for American Apparel Debt
August 23, 2011

The New York Post is reporting that Los Angeles billionaire Ron Burkle, who last summer purchased a 6 percent equity stake in the company, is now offering to take over American Apparel's debt.

From the Post: "One possible outcome is that an $84 million term loan from British-based Lion Capital—whose punishing interest rate of 18 percent has sapped American Apparel’s liquidity—could be partly or entirely refinanced to a rate as low as 7 percent, according to a person briefed on the talks."

Further details on the story can be found by clicking through to the Post.

American Apparel Announces eBay Partnership, Expands in Europe
July 28, 2011

American Apparel, Los Angeles, this week announced an exclusive partnership with online auction house eBay. The multi-year deal will create the first brand lifestyle shop on the auction site, allowing eBay surfers and shoppers to purchase directly from factory.