By and  on August 30, 2011

Leonard Green and Ron Burkle are both circling American Apparel as it seeks to refinance its debt load.

Private equity firm Leonard Green & Partners recently offered a $100 million loan secured by American Apparel’s brand name and intellectual property, which could have been used to pay off $83.8 million the struggling retailer owes to London-based Lion Capital under a term loan that carries an exorbitant 18 percent interest rate, said sources.

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