American Apparel Buoyed With $43M Bailout

Law360, New York (April 22, 2011, 4:43 PM EDT) -- American Apparel Inc. reportedly stands to collect as much as $43 million in rescue financing from a group of Canadian investors seeking to help the ailing Los Angeles-based retailer stave off bankruptcy.

After days of negotiations with the company's board, the investors agreed to funnel $15 million into American Apparel up front with the potential for adding as much as $28 million during the next six months, the New York Post reported Friday.

The financing comes at a crucial time for the retailer, which is trying...
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