WOES at clothing chain American Apparel deepened yesterday as it raised "substantial" doubt over its ability to continue as a going concern and warned it could breach a loan covenant, sending its shares down 22 per cent to a lifetime low. Fears mounted that the fashion retailer was on the brink of bankruptcy after it flagged up losses of as much as $7 million (£4.5m) for the three months to June, with debts amounting to $120.3m. This means it is likely to breach the terms of its agree ADVERTISEMENTment with its main lender, private equity firm Lion Capital, next month....
