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American Apparel: Rags To Riches... To Rags Story?

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With sales down by 16% in its 279 shops globally -- 15 in the UK -- the company whose clothes were worn by the coolest kids across the world is now at risk of breaching the terms of an $80m loan provided by British company Lion Capital, in March 2009 -- a loan advanced to rescue it from another financial crisis. If Lion Capital call in its loan, American Apparel will be forced into receivership.

Read the whole story at The Guardian

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