By  on April 4, 2011

American Apparel is scrambling to find new financing as it faces a severe cash crunch and a looming April 30 deadline that could cut off its ability to borrow from banks and cover daily operating costs, which could potentially trigger a Chapter 11 bankruptcy filing.

The company has tapped the Rothschild investment bank to shake the money tree for potential investors, but so far there have been no takers, according to company insiders.

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