American Apparel urged to "explore options"
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New York
THE board of American Apparel Inc has received a letter from British buyout firm Lion Capital, pushing it to explore strategic options include a sale, a source familiar with the situation said.
The letter also said that Lion Capital would nominate Lyndon Lea, one of its founders, to the clothing retailer's board of directors to replace one of its previous designees, Gene Montesano.
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