We've been following the increasingly boring story of American Apparel in a race to save the company before they default on their loans. (Which is bad) So in a weird and unseen move, the company got saved by a group of investors (that's......bad? good? we just don't know)
We can however reveal that the company has been saved by a group of investors, not just one. Together they raised the $15 million needed to save the company......for now.
In some weird way, this money will be converted into shares which will in turn mean that Charney has less control over his company - not a bad thing at all.
Anyway, back to my jug of pimms.....
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