American Apparel is exploring new avenues for financing as negotiations with Colbeck Capital, a private equity firm backed by Ron Burkle, have stalled and a deal looks unlikely to come to fruition. The parties had been in discussions since August about a financing deal worth between $90 million and $100 million, but American Apparel Inc. executives balked at the high cost of the capital infusion, according to sources close to the talks.
Colbeck Capital management was seeking high entrance and exit fees for the loans, in addition to interest payments. “The pricing was on the high side, primarily structured around commitment and exit fees,” said a source.
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