American Apparel Secures $15 Million Investment
Members of the investor group include Michael Serruya, a Canadian investor most well known for making a similar investment in smoothie chain Jamba Juice in 2009, and Delavaco Capital, a Fort Lauderdale, Florida-based investment firm.
News of the possible influx of funds saw American Apparel's stock price rise more than 13 percent to $1.30 on the day of the announcement, with continued increases this week. As of 2:30 p.m. Wednesday, the company's stock was $1.47, a 63 percent increase over the closing price on April 1 of $0.90, the day the company reported at $86.3 million net loss for the previous year in its annual regulatory filing.
- Companies:
- American Apparel
Kyle A. Richardson is the editorial director of Promo Marketing. He joined the company in 2006 brings more than a decade of publishing, marketing and media experience to the magazine. If you see him, buy him a drink.