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Throw on your V-neck shirts, put on a skin-tight skirt and start your celebrating, because American Apparel has been saved!
The good folks at Lion Capital must understand how hard it is to find an inexpensive pair of durable leggings, because they've allowed the company to avoid filing bankruptcy by changing the terms of their agreement. The lenders announced that they're in full support of CEO Dov Charney, who is working towards improving business in a bad retail market by putting new senior staff into place and restructuring to re-stabilize the company. (Why American Apparel hasn't stocked balloons in primary colors to prepare for this day, we'll never know.)
The Cut premiered the company's new, more professional advertisement yesterday, which instead of leaving everyone to imagine half-naked girls in bed now just gives us all the mental image of cuddling up to Dov Charney. In a business meeting. In his bed. See? So much more professional!
· American Apparel Saved From Bankruptcy [The Cut]
· American Apparel[Official Site]