By  on March 13, 2012

American Apparel Inc. has found a new creditor, swapping out an expiring bank credit facility for a more expensive loan and credit facility with a syndicate led by a George Soros-backed fund.

The financially strapped specialty retailer was thrown an $80 million lifeline by Boston-based Crystal Financial LLC and Salus Capital Partners LLC, comprised of a $30 million term loan and a $50 million revolving credit facility. Soros’ Quantum Strategic Partners Ltd. is the lead investor in Crystal Financial.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus