American Apparel Strikes Deal With Creditor
T-shirt manufacturer and retailer American Apparel amended its credit agreement with British private equity firm Lion Capital LLP. The agreement calls for American Apparel to maintain a minimum consistent level of EBIDA (earnings before interest, depreciation and amortization) for 12 consecutive months. Under terms of the deal, American Apparel must raise its consolidated EBIDA level from the current $6.25 million to $70.8 million by Sept. 30, 2013.
