"I would like to personally thank Lyndon Lea of Lion Capital for his unwavered support as a lender during the last four years, even when others doubted American Apparel's 'Made in USA' sweatshop-free mission," Charney said. "Also a special thank you is due to Michael Serruya and to Andy De Francesco of Delavaco Capital, Inc. in Toronto, for their initial investment which came at a critical time in 2011, and their continued support and friendship. At American Apparel we are focused on leveraging art, design and innovation to advance our business process, rather than relentlessly pursuing off shore cheap labor. We welcome bondholders to our family of stakeholders, and re-emphasize that it is our mission to ensure that all stakeholders-customers, workers, shareholders, suppliers, and now bondholders-have a positive experience when touched by our business. We also welcome Capital One as our new bank, under our new five year agreement with them, which will greatly reduce our first lien borrowing costs. At this juncture it's time to roll up our sleeves and build American Apparel's future."
- Companies:
- American Apparel