American Apparel receives $300-million takeover offer
- 8 years ago
American Apparel has received a $300-million takeover bid from an investor group that is supporting the return of the company's ousted chief executive, Dov Charney.
Hagan Capital Group and Silver Creek Capital Partners, the investors behind the bid, said that this offer was an “upward revision” from a bid submitted in December, according to a statement Monday.
The Times reported last week that the initial offer was worth about $200 million.
The competing deals mean a potential fight for the future of the Los Angeles company, whose fate is scheduled to be decided by a Bankruptcy Court judge Jan. 20.
It also marked a possible path of return for Charney, who was fired in 2014 after an investigation uncovered allegations of inappropriate behavior and misuse of company funds.
Hagan Capital Group and Silver Creek Capital Partners, the investors behind the bid, said that this offer was an “upward revision” from a bid submitted in December, according to a statement Monday.
The Times reported last week that the initial offer was worth about $200 million.
The competing deals mean a potential fight for the future of the Los Angeles company, whose fate is scheduled to be decided by a Bankruptcy Court judge Jan. 20.
It also marked a possible path of return for Charney, who was fired in 2014 after an investigation uncovered allegations of inappropriate behavior and misuse of company funds.