American Apparel Gets $300 Million Bid From Team Backing Charney

American Apparel Inc. received a $300 million takeover bid from an investor group that would bring back controversial founder Dov Charney to the bankrupt clothing chain.

Hagan Capital Group and Silver Creek Capital Partners, the investors backing the offer, announced the proposal in a statement on Monday, saying it was superior to a bankruptcy plan that would hand ownership of the company to bondholders. The investment would be overseen by the private equity arm of PressPlay Global, a company with offices in San Francisco and Shanghai, according to the statement. The bid represents a sweetened version of an offer first reported by Bloomberg last week.