American Apparel, the trendy but troubled Los Angeles clothier, is preparing to file for Chapter 11 bankruptcy protection Monday — yet another blow to a company that has been struggling since ousting its chief executive last year.

The firm said Sunday that it had reached an agreement with 95% of its secured lenders to implement a financial restructuring.

American Apparel's net losses have totaled nearly $384 million over the last 5 1/2 years.

Read the full story here: http://www.latimes.com/business/la-f...005-story.html

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