American Apparel files for bankruptcy, operations to continue
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American Apparel (APP) Reaches Agreement with Lenders on Financial Restructuring
October 5, 2015 6:52 AM EDTAmerican Apparel (NYSE: APP) has reached a restructuring support agreement with 95% of its secured lenders to implement a pre-arranged financial restructuring. This reorganization will enable the Company to implement a comprehensive transformation strategy to revitalize the business and brand, while keeping its production and operations in the U.S. Throughout the implementation of this process, American Apparel will continue to operate its business without interruption to customers, employees and vendors.
The restructuring support agreement, which has been approved by the Company's board of directors, will substantially reduce the Company's debt and interest payments... More
American Apparel (APP) Files for Chapter 11 Bankruptcy
October 5, 2015 6:19 AM EDTAmerican Apparel (NYSE: APP) has reached a restructuring support agreement with 95% of its secured lenders to implement a pre-arranged financial restructuring. This reorganization will enable the Company to implement a comprehensive transformation strategy to revitalize the business and brand, while keeping its production and operations in the U.S. Throughout the implementation of this process, American Apparel will continue to operate its business without interruption to customers, employees and vendors.
The restructuring support agreement, which has been approved by the Company's board of directors, will substantially reduce the Company's debt and interest payments... More
