Dov Charney has sold 18% of American Apparel to a private-equity firm known as Lion Capital. For those interested in what a private equity firm does, have a read here, but basically they purchased a percentage of AA for $80 million so that some of the companies debt could be retired. The deal was well received on the market with shares in AA jumping 68% in a day (Wish I’d known that was coming)! You can get more detail on the deal in this article from Transworld Business. And if you’re hanging out in Melbourne, make sure you check out the American Apparel store on Chapel St. – if you’re in Sydney, there’s one on Oxford St. and Adelaide has got a new one on Rundle Mall.