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Cash-strapped American Apparel will not issue more shares to raise money

2015-07-18 10:48:49| Apparel - Topix.net

American Apparel Inc. investors voted against a proposal at Thursday's annual meeting that would have boosted the number of shares it can issue, possibly decreasing how much money the cash-strapped retailer can raise. The company has about 180 million shares outstanding, with authorization to increase that to 230 million.

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