By continuing to use the site you agree to our Privacy & Cookies policy

American Apparel to sell stake to private equity firm

American Apparel is set to sell a 20% stake in the business to private equity firm Lion Capital, according to reports.

The young fashion brand will sell the stake for around $80 million (£57m), in a deal expected to be announced today.

The deal will come as American Apparel races to pay off $16m (£11.4m) of debts to backers. American Apparel’s store sales fell 9% last month, the first monthly drop in the business’ history.

The New York Times reported that shares of American Apparel had been hit by concerns over the retailer’s ability to pay debts.

 

Have your say

You must sign in to make a comment.

Related Jobs

Sign in to see the latest jobs relevant to you!

Digital Editions

Drapers Archive

View digital editions of Drapers magazine

More

Next Generation

NextGeneration

A talent nurturing initiative for those in the early stages of their career

More