The unorthodox hipster-loving retailer was more than $91 million in debt and facing a real possibility that its 280 stores would be shut do within the next few months.
However, British firm Lion Capital has changed the terms of its lending policy so that American Apparel can stay in the game, reports WWD.
According to the terms of the new agreement, American Apparel must make a pre-tax profit of $20 million over the 12 months ending Jan. 31, and must earn $80 million by September 2013. Good luck with that AA.
American apparel is best brand in mexico. It's do business to business with many online platforms.
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