American Apparel is the Latest Retail Trainwreck
So Many Caught With Their Pants Down
Add a prestigious lineup of distressed investors and professionals to the roster of folks pantsed by American Apparel.
In October 2015, American Apparel filed for bankruptcy. It converted $200mm of secured debt into (a) equity and (b) a $120mm post-bankruptcy exit Term Loan (subsuming $30mm of new money). The Company…