American Apparel (APP) Stock Continues Rise After Standard General Cash Infusion

NEW YORK (TheStreet) -- American Apparel  (APP) continued to rise Monday after last week's $25 million lifeline from hedge fund Standard General.

The deal would revamp the struggling retailer's board and infuse it with the cash. Some of that money will help pay off a loan called in by investment firm Lion Capital. As part of the deal, five of the board's seven members will be replaced and ousted founder Dov Charney will come on as a strategic consultant until the completion of an investigation into his actions.

The stock was up 5.26% to $1.24 at 10:57 a.m. More than 6.4 million shares had changed hands, compared to the average volume of 5,708,190.

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APP Price Chart APP Price data by YCharts

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