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American Apparel receives default notice
New York -- The American Apparel saga continues, with the beleaguered chain receiving a notice of default from its longtime lender, Lion Capital.
The default notice was based on the claim that founder Dov Charney ceased to be CEO of the company, according to a regulatory filing with the Securities and Exchange Commission today. (Lion had a stipulation in its loan agreement, which was signed last year, stating that if Charney left the company, it would be in default.)
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Polaroid Fotobar to open Las Vegas flagship
New York -- Polaroid Fotobar will open an 8,500-sq.-ft. flagship at The LINQ, a new retail, dining and entertainment district in Las Vegas by Caesars Entertainment.
The retail format made its debut in 2013, with three stores in Florida ( Delray Beach, Orlando and Miami). Upcoming plans include another location in Florida, in Boca Raton.