Los Angeles Business Journal

Goldman May Take Hit on American Apparel

By Business Journal Staff Wednesday, November 16, 2016

Goldman Sachs Group Inc. and three other investors could lose as much as $123 million after buying 94 percent of American Apparel Inc.’s debt when it filed for bankruptcy 13 months ago, Bloomberg reports. Goldman, Monarch Alternative Capital, Coliseum Capital Management, and Pentwater Capital Management hold $189.2 million of its senior debt, and so far American Apparel has only attracted a limited $66 million bid from Canadian T-shirt company Gildan Activewear Inc. after filing for bankruptcy protection earlier this week.