Home Videos Photos Shop
PerezHilton CocoPerez T.Swift Kanye West Selena G. Britney Spears PerezTV

American Apparel Avoids Bankruptcy

| Filed under: Dov CharneyAmerican Apparel

American Apparel saved from bankruptcy by lender Lion Capital

Lion Capital has decided to spare American Apparel from bankruptcy, for now.

As part of the new agreement, AA must increase their profitability to stay in their lender's good graces. By January 31st of next year, the clothing company must have made $20 million in earnings before interest, taxes, depreciation, and amortization over the past 12 months.

If they make it to 2013, Dov Charney & Co. will have to pull in $80 million to still be in compliance with the new terms set by Lion Capital.

Think they can do it???

[Image via AP Images.]

Tags: , , ,

The Fashion World's Biggest Scandals And Tragedies
Controversial Fashion Figures: Dolce & Gabbana, John Galliano, Coco Chanel, And More!
Meghan Markle's Fashion Evolution!
Worst Dressed Celebs Of The Week!
Best Dressed Celebs Of The Week!
iHeartRadio Music Awards 2018: All The Red Carpet Fashion!

Comments are closed.