George Soros has found a new financial disaster from which to profit: American Apparel. The billionaire octogenarian who, like American Apparel's controversial CEO Dov Charney, has lately been entangled in lawsuits with young, beautiful women, is backing a firm that's in talks to extend a credit line worth as much as $80 million to the cash-strapped clothing chain, The Post has learned. The credit facility from Crystal Financial, a Boston-based firm that boasts Soros’ hedge fund as its lead investor, will immediately replace and expand a $75 million revolving credit line from Bank of America.
The owner of clothing retailers La Senza and American Apparel has bought fellow fashion chain All Saints in a deal set to secure hundreds of jobs. Investment firm Lion Capital has teamed up with American Apparel investor Goode Partners to buy the holdings of two Icelandic banks for an undisclosed sum.