Pursuits
American Apparel Gets Quick OK for $90 Million in Financing
- Judge's permission `clears the runway' for chain to pay bills
- Clothing retailer seeking to reorganize after years of losses
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American Apparel Inc. won quick court approval to tap into loans of as much as $90 million while it tries to reorganize its finances after years of losses.
The Los Angeles-based clothing maker filed for bankruptcy Monday, plagued by cash-flow problems and the antics of its allegedly wayward founder.