Spread those legs wide, American Apparel. Here comes a hot capital injection.
Apparently just days short of defaulting on a loan of USD 16,000,000 from Dell CEO Michael Dell, American Apparel has sought the help of British private equity firm Lion Capital to bail it out. Lion Capital, in return, agreed to purchase a fifth of the company in exchange for 16 million new shares of American Apparel stock valued at USD 2 each. This sums up to about eighty million bucks of capital coming into American Apparel's hands, which has been suffering a global downturn (no shit) since the recession kicked in.
So kick off those P.E. Shorts and leave those fake glasses on the nightstand. Don't worry, the first time always hurts a little bit.
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