American Apparel Seeks Buyer

American Apparel (Los Angeles) has hired Houlihan Lokey to sell the company just six months after it exited bankruptcy.

Earlier this year, the company’s creditors, including Goldman Sachs and Pentwater Capital Management, traded $230 million in debt for equity and now control the firm, reports Women’s Wear Daily. A source familiar with the process says now they are reaching out to the “usual suspects” as potential buyers.

Although American Apparel sales once reached $600 million, an anonymous source said the company is expected to cap this year with less than $400 million in revenue.