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American Apparel to file for Chapter 11 after reaching deal with lenders

2015-10-05 08:32:33| Apparel - Topix.net

American Apparel, the trendy but troubled Los Angeles clothier, is preparing to file for Chapter 11 bankruptcy protection Monday - yet another blow to a company that has been struggling since ousting its chief executive last year. The firm said Sunday that it had reached an agreement with 95% of its secured lenders to implement a financial restructuring.

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