Lion Capital Letter Urges American Apparel to Consider Potential Sale

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Hedge fund Lion Capital has reportedly sent a letter to American Apparel, Inc.'s
APP
Board of Directors on Sunday, requesting the retailer consider strategic options, according to the
Wall Street Journal
. Sources say options include a potential sale. Lion Capital's request comes on the heels of Irving Place Capital's $1.40 per share bid, which American Apparel's Board indicated was too low, according to sources. American Apparel shares closed flat Friday at $1.06.
Posted In: NewsWall Street JournalRumorsAsset SalesM&AMediaWall Street Journal
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