American Apparel Is Even Closer To Going Bankrupt [Rag Trade]

American Apparel may be facing bankruptcy at last. According to the company's latest financial report - filed late, as is Dov Charney's custom - American Apparel lost $86 million in 2010, and had just $5.3 million in cash as of the end of February. Sales fell by 4%. Lion Capital, the private investment firm that has bailed the troubled t-shirt-maker out on more than one occasion - it first lent American Apparel $83 million ...

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