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8.31.2011

American Apparel's $100,000,000 Offer
A private equity firm has offered American Apparel a loan of $100 million in return for it's name and intellectual property. The struggling chain currently owes $83.8 million to another firm. Dismissive of this, the company's infamous founder Dov Charney is reportedly reluctant to go ahead with the deal. Charney, who owns 41.7% of American Apparel, is said to be unprepared to put the company's name at risk.