American Apparel creditor demands loan repayment

World News: . []

A man walks past an American Apparel store in New YorkLion Capital has asked American Apparel to repay a $10 million loan four years early after the retailer ousted its founder and CEO Dov Charney on June 18, said a source close to the matter Friday. Allan Mayer, co-chairman of American Apparel's board, says that talks with Lion Capital are ongoing "but if they do decide to call the loan, we have sufficient capital to pay it off." American Apparel shares rose 30 percent on Friday to close at 97 cents on the American Stock Exchange, the highest level since February. "I think Wall Street is betting right now that Dov does not come back." Lion Capital, a British investment firm that focuses on the consumer sector, has made no public statement on the loan. "Lion is either looking for an exit strategy, or it is looking for Dov to come back," said Eric Beder, an analyst who specializes in retail and consumer products for Brean Capital.

Read More: LINK 

Published: .

Search for other references to "american" on SPi News


Previous StoryNext Story

SPi News is published by Sector Publishing Intelligence Ltd.
© Sector Publishing Intelligence Ltd 2019. [Admin Only]
Sector Publishing Intelligence Ltd.
Agriculture House, Acland Road, DORCHESTER, Dorset DT1 1EF United Kingdom
Registered in England and Wales number 07519380.
Privacy Policy | Terms and Conditions | Contact Us