American Apparel is in talks to raise USD 160 million from several sources.
The American fashion retailer has been combating the effects of a long-standing sales slump and there has been talk of the prospect of bankruptcy if the company did not raise enough money to continue trading.
The restructuring plan could possibly include refinancing the company's debt held by Lion Capital LLP and Bank of America Corp.
Dov Charney, the controversial chief executive officer, may step aside as chairman so he can focus on day-to-day operations.
Accessories Amazon Asda Christmas Expansion & Franchise Fashion HR News High Street John Lewis London Marks & Spencer Media News Results Retail Retail and Consumer Industry Retail news Sainsbury's Shopping Store Tesco UK brand china consumer deal deals and rumours department department stores e-commerce electricals expansion fashion news finance food luxury morrisons my online online retail people profit property retail industry retail property retailer sale sales supermarket waitrose