New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 8, 2014
06:26 EDTAPPLion Capital demands repayment of $10M loan from American Apparel, NY Times says
Lioin Capital has demanded immediate repayment of a $10M loan it made to American Apparel after negotiations over new terms failed, reports the New York Times, citing a person with knowledge of the situation. A potential new benefactor, Standard General, is considering making the repayment on the behalf of the company, but it is unclear if American Apparel would pay back the loan some other way. Reference Link
News For APP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 27, 2015
06:31 EDTAPPAmerican Apparel sued by former CEO for $40M, Reuters reports
Subscribe for More Information
March 26, 2015
06:07 EDTAPPAmerican Apparel says SEC issued formal order of investigation in February
Subscribe for More Information
March 25, 2015
17:18 EDTAPPAmerican Apparel Reports Q4 EPS (16c), one estimate (2c)
Subscribe for More Information
March 17, 2015
17:41 EDTAPPAmerican Apparel files to delay Form 10-K
The company is engaged in discussions with its revolving credit facility lender with respect to certain waivers and amendments to such facility that, among other things, would reset certain covenants going forward, permit the execution of the previously disclosed $15M credit agreement between one or more entities affiliated with Standard General and one or more of the Company’s foreign subsidiaries as borrowers and waive noncompliance with certain covenants. The Company’s staff and resources have been substantially committed to such discussions and the outcome thereof would impact the Company’s financial statements disclosures as of and for the year ended December 31, 2014 and other information required to be disclosed in the Annual Report. The Company intends to use the net proceeds from the Standard General Credit Agreement to fund the Company’s near-term interest payments on certain of its indebtedness, including the April interest payment on its senior secured notes, and other liquidity needs. No assurances can be given that the Company will be successful in obtaining such amendments and waivers or in consummating the Standard General Credit Agreement when expected, or at all. In light of the foregoing, the process of completing the financial statements and the related information required to be included in the Annual Report could not be completed by the scheduled filing deadline for the Annual Report.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use