for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up
Funds News

Judge approves American Apparel plan, over Dov Charney bid

WILMINGTON, Del, Jan 25 (Reuters) - A U.S. judge on Monday said he would approve American Apparel Inc’s plan to exit bankruptcy and rejected a takeover attempt from the teen retailer’s founder and ousted chief executive, Dov Charney.

The ruling by U.S. Bankruptcy Judge Brendan Shannon clears the way for the funds including Monarch Alternative Capital to control the operator of more than 200 stores when it exits bankruptcy, which was filed in October.

Reporting by Tom Hals; Editing by Chizu Nomiyama

for-phone-onlyfor-tablet-portrait-upfor-tablet-landscape-upfor-desktop-upfor-wide-desktop-up