Shaky Ground for American Apparel

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With a second quarter marred by falling sales and a big net loss, downtown L.A. apparel maker American Apparel Inc. is inching closer to bankruptcy, the Los Angeles Times reports. While the company received a lifeline Monday when it was able to replace a $50 million credit line with a $90-million one, American Apparel is also facing a variety of lawsuits and has nearly $235 million in debt.

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