American Apparel says may not have enough funds for next 12 months

August 11, 2015 10:42 PM

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American Apparel says may not have enough funds for next 12 months

Struggling teen apparel retailer American Apparel Inc (APP.A) said it does not expect to have sufficient funds to run the company for the next 12 months and warned it may not be able raise additional capital.

The company, which is being sued by founder and former CEO Dov Charney, said it could breach covenants related to a credit facility.

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