Shares of American Apparel surged more than 27 percent yesterday following The Post’s report that the retailer has secured rescue financing to avert the threat of a possible bankruptcy.
A consortium of Canadian investors injected $15 million into the Los Angeles-based clothier in exchange for shares priced at 90 cents each, sources said. They have the option to buy an additional $28 million in shares, also priced at 90 cents each, during the next 180 days.
American Apparel’s stock rose 34 cents to close at $1.58.
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