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Stock Market & Financial Investment News

News Breaks
July 18, 2014
17:25 EDTAPPStandard General working with American Apparel to restructure loan
On July 16, Lion/Hollywood assigned its rights and obligations as a lender under the credit agreement dated as of May 22, 2013 by and among the company, the facility guarantors party thereto, Lion/Hollywood as the initial lender and the other lenders party thereto to Standard General. Standard General purchased the loan in order to resolve any disputes over any alleged events of default under the credit agreement and does not believe that there has been an event of default under the credit agreement. Standard General is working with American Apparel to restructure the loan. As previously discussed on July 11, Standard General is prepared to lend its credibility and capital resources to assist American Apparel in accordance with the support agreement described therein.
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August 2, 2015
20:51 EDTAPPAmerican Apparel to vacate certain LA property, sees saving $2.1M annually
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July 27, 2015
07:22 EDTAPPAmerican Apparel close to bankruptcy, NY Post reports
American Apparel is on the brink of bankruptcy, the New York Post reports. The retailer is currently short on cash reserves and faces a large bond payment in less than three months, all in addition to piling legal bills over the Dov Charney lawsuit over alleged sexual harassment, the report says. Investors are bracing themselves for all-out bankruptcy when the company releases its quarterly earnings, the report adds. Reference Link

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