By  on March 10, 2009

It’s crunch time for American Apparel Inc., as the cash-poor retailer of trendy tights and T-shirts faces two key financial deadlines this month.

Following an expensive refinancing in December, American Apparel must raise $16 million in new financing by Friday in order to avoid issuing warrants for two million shares to lender SOF Investments, to which it owes $51 million. American Apparel already issued warrants for one millions shares to SOF in December, plus fees of $2.6 million, under terms of its refinancing.

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