American Apparel Inc.’s white knight may turn out to be an albatross.
Shares of the Los Angeles-based retailer fell more than 40 percent Wednesday after it said it does not expect to be in compliance with a covenant covering debt to adjusted earnings before interest, taxes, depreciation and amortization under a credit agreement with Lion Capital as of June 30. The firm based the projection on “existing trends” and results for the first quarter ended March 31.
"I think that all anyone really wants in life is to have people understand us for who we actually are, despite everything," says Ruth Negga. The actress talks "Preachers" season 2 and more on WWD.com. #wwdeye (📷: Dan Doperalski)
"That's something that resonates with me too because I'm so locked into a number. If I go over that number it completely ruins my day so it's nice to get detached from the number on the scale." - Chelsea Handler on Kelly LeVeque's book "Body Love." #wwdeye (📷: John Salangsang)