The Traderszone Network

Published in TZ Latest News 14 January, 2016 by The TZ Newswire Staff

American Apparel rejects takeover bid: source

Earlier this week, the Los Angeles-based company received a $300 million bid from a group of investors who are backing the return of Dov Charney. Hagan Capital Group and Silver Creek Capital Partners said their proposal included $90 million of new equity and a $40 million term loan, and backs a business plan from Charney, who was fired as chief executive in December 2014. American Apparel is open to a revised offer from the funds, the source said.