×
67 387
Fashion Jobs
ON RUNNING
Sales Representative
Permanent · BOSTON
MACY'S
Manager, Merchandise Execution
Permanent · New York
MACY'S
Asset Protection Officer, Goodyear - Full Time (2840)
Permanent · Goodyear
MACY'S
Asset Protection Detective, Cross County - Full Time
Permanent · Yonkers
MACY'S
Asset Protection Detective, Bay Fair - Part Time
Permanent · San Leandro
MACY'S
Asset Protection Detective, Queens Center - Part Time
Permanent · New York
MACY'S
Manager, Operations
Permanent · Miami
MACY'S
Asset Protection Detective, Thousand Oaks - Part Time
Permanent · Thousand Oaks
MACY'S
Manager, Operations Sun-Wed 6:30pm-5:00am
Permanent · Portland
MACY'S
Asset Protection Detective, Rosedale Center - Full Time
Permanent · Roseville
TJ MAXX
Overnight D/C Loss Prevention Specialist
Permanent · Pittston
ROSS STORES
Store Protection Specialist
Permanent · Novato
ROSS STORES
Store Protection Specialist
Permanent · Dallas
TAPESTRY
Area Manager
Permanent · Boston
SALLY BEAUTY CORPORATE
Outside Sales Representative - Cosmoprof
Permanent · Ottawa
ASCENA
Part Time Manager Ann Taylor Factory Birch Run, mi
Permanent · Birch Run
ASCENA
District Manager - Ann Taylor, il/mi
Permanent · Lockport
ASCENA
District Manager, Ann Taylor Loft Factory Outlet - Georgia
Permanent · Peachtree City
NORDSTROM
Program Manager 2 - Price Strategy
Permanent · Seattle
NORDSTROM
General Manager- Cafe Nordstrom- Downtown Portland
Permanent · Portland
NORDSTROM
Area Manager - Training - Portland, or
Permanent · Portland
NORDSTROM
Operations Manager Outbound – Sat-Mon 6pm-6am Shift – Elizabethtown, PA
Permanent · Elizabethtown
By
Reuters
Published
Oct 2, 2010
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

American Apparel avoids covenant breach; shares rise

By
Reuters
Published
Oct 2, 2010

Oct 1 (Reuters) - American Apparel Inc (APP.A) amended its credit agreement with Lion Capital, earning a reprieve from an impending default on a debt covenant, and said the UK-based lender was working to realign the clothing firm's capital structure with CEO Dov Charney.

American Apparel
American Apparel. Photo : Pixelformula

Lion Capital is also working with Charney, an outspoken chief seen as the creative brains behind the company, on hiring new senior executives, the company said.

Shares of the company rose as much as 20 percent to $1.47 Friday morning on the American Stock Exchange.

American Apparel, known for its "Made in USA" clothing, pro-immigration stance and racy advertising, has been criticized for lax financial controls and lack of strong senior management. The 279-store chain had previously warned it could default by the end of this month on its loan agreement with Lion Capital.

The amendment eliminates the minimum consolidated EBITDA covenant for the rest of 2010, but provides for that minimum to be tested each month next year.

(Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Ian Geoghegan, Anthony Kurian)

© Thomson Reuters 2022 All rights reserved.