American Apparel working through the aftermath of Charney's exit

Fashion retailer American Apparel continues to search for a new Chief Executive Officer whilst

working through several issues raised after the retailer ousted its president, CEO and chairman Dov Charney last week.

Speculation had been circulating that after the departure of Charney, Lion Capital had asked for an immediate repayment of the 10 million dollar it had given to the fashion retailer. However Allan Mayer, co-chairman of the company has denied such claims.

“We're still in talks with Lion,” said Mayer to WWD on Thursday. “If they do decide to call the loan, we have access to the capital we need to pay it off, so it's not really an issue for us.”

American Apparel currently carries a debt load of roughly 280 million dollars. The fashion retailer previously retained investment banking advisory firm Peter J. Solomon Company to make sure they had “adequate access to capital.”