American Apparel Not Out of the Woods Yet

The investors that saved American Apparel from bankruptcy four months ago are selling their stock in the company. A consortium of investors which bought $15 million worth of American Apparel shares at 90 cents a pop back in March is looking to sell those shares now that American Apparel is trading at around 97 cents; the investors also have warrants to buy up to another $30 million worth of shares at the original 90 cent price over the next six months.