Home Videos Photos

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: , , ,

Demi Lovato's Rainbow Of Hair Colors!
Selena Gomez's Style Transformation! See How The Starlet Has Become Even Edgier This Past Year HERE!
Khloe Kardashian's Bravest Kamel Toe Moments!
Juicy Couture Tracksuits: See All The Celebs Who Jumped On The Bandwagon!
BET Awards 2014: Best Boobs!
Justin Bieber Wearing Hats!

Comments are closed.