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Lion Capital has decided to spare American Apparel from bankruptcy, for now.
As part of the new agreement, AA must increase their profitability to stay in their lender's good graces. By January 31st of next year, the clothing company must have made $20 million in earnings before interest, taxes, depreciation, and amortization over the past 12 months.
If they make it to 2013, Dov Charney & Co. will have to pull in $80 million to still be in compliance with the new terms set by Lion Capital.
Think they can do it???
[Image via AP Images.]
Tags: bankruptcy, lender, lion capital, saved
It was the show everyone was waiting for, and on Monday Giles Deacon finally revealed his debut collection for Emanuel Ungaro — and it was a success!
The Spring 2011 collection was youthful and classy, a word that's not in former creative advisor Lindsay Lohan's vocabulary. Critics also described Giles' collection as "more couture", which means it'll be expensive.
Saks Fifth Avenue's Mindy Prugnaud said it best "Giles Deacon is a serious designer who's getting the house back in order."
Congrats Giles!
[Image via WENN.]
Tags: classy, couture, giles deacon, la loca, paris fashion week, saks fifth avenue, saved, ungaro
As much as we love to hate those fug shoes, this is pretty amazing!
Medics believe 3 year-old Harley Sutton-Dormer's shoes saved him from being seriously injured after receiving an electric shock from a hairdryer.
His mum described the terrible incident, saying:
"A bright blue bolt of electricity went down his arm and shot out his side. It was awful, he was screaming in agony and shaking. The T-shirt and jumper he was wearing are charred and he's got an exit burn on his side about the size of a 5p piece. The paramedic said he was really lucky he was wearing Crocs shoes at the time, as they stopped the electricity going through his legs and coming out of his feet and probably saved him from serious injury."
What a lucky little boy!
[Image via The Daily Mail.]
Tags: crocs, electric shock, harley sutton-dormer, saved
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