(Refiles to add correct link to WSJ story)
Aug 28 Private equity firm Lion Capital LLP has
told American Apparel Inc that it is exercising its
right to fill one of the two vacant board seats it controls at
the apparel retailer, the Wall Street Journal reported, citing
people familiar with the matter.
The London-based investment firm, which holds warrants to
buy 12 percent of American Apparel's stock, has nominated Robert
Mintz for the position, the Journal reported. (on.wsj.com/1tWWAeL)
Mintz, most recently chief executive of rib and barbecue
supplier Rupari Food Services Inc, attended school with American
Apparel founder Dov Charney, the report said.
Earlier this month, the struggling retailer posted a
bigger-than-expected quarterly loss as sales stagnated amid a
corporate shakeup that started with the suspension of founder
Dov Charney as chief executive.
Charney was suspended for allegedly misusing corporate funds
and helping spread nude photos of a former employee.
American Apparel also named Laura Lee, a Google Inc
executive, as the second woman director on its board
earlier this month.
Both American Apparel and Lion Capital were not immediately
available for comment outside regular business hours.
(Reporting by Arnab Sen in Bangalore; Editing by Gopakumar