Earlier this week it was released that American Apparel's Dov Charney was able to secure $15 million dollars to keep the debt-beast at bay just a smidgen longer and keep the company afloat. It is said that the money was raised by a board of Canadian investors with an option for further investment in the next since months. Fashionista.com reports that many of these investors are taking the stance that Charney is merely misunderstood and eccentric (uh...?), and who has also taken a hit in diluting his stocks in order to make this deal happen. One of the investors is quoted as saying that they look for companies who are being "discounted...for reasons that are temporary." While it may seem like a stretch to put these sentiments next to a company which has faced such controversy and seems to have been floundering for awhile now, this is the same investment company that was able to successfully bail out Jamba Juice in the last few years, so maybe they can be the white knight for American Apparel as well; thoughts?Text: Corinna Fabre
Information: Fashionista.com
Picture: American Apparel
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