(Filed Under Financial and General Interest News). In its preliminary results for the second quarter ended June 30, 2010, American Apparel cited a 16 percent decline in comparable store sales. Total debt grew by $28.9 million, to $120.3 million, from $91.4 million as of March 31, 2010.

American Apparel attributed some of its financial troubles to lower labor efficiency at its production facilities.

Once again, American Apparel warned that it expects to soon be out of compliance with its lender.

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Published 08-18-2010 by Amanda Torres Price