American Apparel Scores Standard General Loan

American Apparel Inc. managed to live on to fight another day in its brightly colored basics. The company tweaked the terms of its credit facility with Capital One, allowing it to borrow $15 million from Standard General in the form of an unsecured credit agreement that bears interest of 14 percent. While coming at a dear price, the money will help keep American Apparel afloat. The company had delayed its annual report to regulators because of the financing issue and said Wednesday, “We have sufficient financing commitments to make the April 15, 2015 interest payment as well as meet other funding requirements for the next 12 months.” But American Apparel’s relatively new chief executive officer Paula Schneider still has lots of work to do. RELATED CONTENT: WWD Earnings Tracker >> The firm’s fourth-quarter losses widened to $28 million from $20.8 million a year earlier. Due to an increase in the number of shares outstanding, losses on a per share basis improved to 16 cents from 19 cents. Adjusted earnings before interest, taxes, depreciation and amortization totaled $10.3 million, while operating expense decreased 12 percent to $10.9 million. “Our fourth quarter year-over-year growth in adjusted EBITDA and reduction in operating expenses position us for a solid turnaround of

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