FiveT Capital AG, last minute saviour for American Apparel

Swiss FiveT Capital AG has set its eyes, trust and money in American Apparel, after

the Zurich-based firm built up a 12.6 percent stake in the struggling fashion retailer. American Apparel faces a 13.4 million dollars interest payment, due to in April.

According to Bloomberg, the retailer has compiled net losses of circa 270 million dollars since the start of 2010, what somehow hints the relief that Dov Charney might have experienced after receiving the cash injection.

“He’s a visionary,” Johannes Minho Roth, owner of FiveT Capital AG Roth said in an interview with ‘Businessweek’. “Dov wants to make it his life goal to make American Apparel into a successful company. I have a very positive view on him,” he added, remarking his investment in the ailing and polemic fashion brand.

FiveT, a Zurich-based firm run by Roth, bought about half of the shares in an American Apparel stock offering, turning into American Apparel’s largest outside investor with a 12.6 percent stake.