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Charney has argued that his Hagan Capital and Silver Creek Capital Partners-backed proposal is better for creditors than American Apparel's plan. The bid was originally worth $200 million, but Charney and company increased it to $300 million this week.
The New York Times reported that it is currently unclear whether or not Hagan Capital and Silver Creek Capital Partners would raise the offer again or wait until the issue goes to bankruptcy court.
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Brendan Menapace
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Brendan Menapace is the content director for Promo+Promo Marketing.
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