American Apparel Lender Intensifies Demand For Repayment

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American Apparel Lender Intensifies Demand For Repayment

by Wochit 0:38 mins

American Apparel Lender Intensifies Demand For Repayment

by Wochit 0:38 mins

A source close to the matter said on Monday that Lion Capital has ordered American Apparel to immediately repay a $10 million loan, after the retailer failed to do so by a July 4 deadline. The ousting of American Apparel Chief Executive Officer Dov Charney more than two weeks ago prompted Lion Capital to demand repayment of a loan that was originally due in 2018. Charney allegedly misused company funds and helped spread nude photos of a former employee. A spokesperson for American Apparel declined to comment.

Wochit

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