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American Apparel Said to Be in Talks to Replace Directors

American Apparel Inc., the clothing chain that raised cash earlier this year to avoid a shortfall, is in talks to replace two of its six board members, according to three people involved in the discussions.

The group of investors that bought $14.9 million of stock in a private placement in April is part of the negotiations, said the people, who declined to be identified because the talks are private. Chairman and Chief Executive Officer Dov Charney will remain on the board, the people said. The changes may be announced this week.