Dive Brief:

• Zurich-based investment firm FiveT bought half the shares in American Apparel’s recent public stock offering, which was a “hail mary” attempt to gather cash to pay debts.

• FiveT CEO Johannes Minho Roth expressed confidence in American Apparel and its CEO Dov Charney, calling Charney a “visionary.” The firm now has about a 13% stake in the company.

• Turns out Roth has been interested in American Apparel for a while and found the fallen share price to be an opportunity.

Dive Insight:

American Apparel once again finds an investor in the nick of time. This time, the company was able to persuade the 35-year-old CEO of a Swiss investment firm that, despite its debt issues, it has a handle on a turnaround. Even though American Apparel CEO Dov Charney has a knack for being brash, his company has a lot of appeal -- from its moderately priced, fun clothes to the fact that it is made in the America, something that costs the company more than most. Now let’s see if American Apparel can get off the roller coaster and back into business.