American Apparel Said to Pay Interest as CEO Crisis Eases
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American Apparel Inc., which was threatened with default after the ouster of Chief Executive Officer Dov Charney in June, plans to take another step toward stability today by paying interest on its bonds, according to people familiar with the situation.
The Los Angeles-based chain will make a payment of about $13 million by today’s due date, according to the people, who asked not to be identified because the matter isn’t public.