It seems that American Apparel was able to work out a deal with it’s lender Lion Capital and won’t be going into default any time soon. In fact, Lion Capital voiced a vote of confidence in Dov Charney and America Apparel’s “Made in USA” approach. Although, they will still bring some new executives on board to keep an eye on things.
So the 7,000 factory works in Los Angeles and thousands of hipsters across the world are safe for now. Employment wise. Not only are there no visible cutbacks for now, but a new American Apparel store was opened in Paris two weeks ago and another one is set to open St. John’s, Newfoundland next week.
[WWD]
