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Charney plotting return to American Apparel

American Apparel is being stalked by at least two prospective acquirers — and the idea is to bring back founder Dov Charney.

The cash-strapped clothing chain has received multiple takeover bids in recent weeks, one of them from a private-equity firm that’s partnering with Charney in a bid that values the company at $1.30 to $1.40 a share, The Post has learned.

The firm, whose identity couldn’t immediately be confirmed, wrote a letter to American Apparel’s board on Friday reiterating its interest in buying the company, sources said.

The letter follows an initial overture several weeks earlier, according to sources close to the situation.

The company’s board, however, has been busy finalizing the official termination of Charney, which it announced Tuesday after a six-month suspension of the company founder amid allegations of misconduct.

Standard General LP, the New York hedge fund that partnered with Charney in July to take control of the company’s board, has since taken majority control of the board itself with several new appointees — including two who sat on a committee that voted to fire Charney this week.

Indeed, Standard General recently opposed giving a board seat to the company’s new CEO, Paula Schneider. While Charney had advocated a board seat for Schneider, Standard General pleaded that there were no open seats to fill, insiders said.

Amid the conflict, Charney has been looking for a financial partner as he seeks a way back into the company he founded in 1998.

American Apparel earlier received a bid valuing the company at $1 a share, according to sources. The shares on Thursday spiked as much as 58 percent, to $1.09 a share, in heavy trading nearly eight times the norm as takeover speculation has continued to mount.

Shares closed at $1.02, up 47.1 percent.

“This whole episode has a lot less to do with pictures of naked women, and a whole lot more to do with a power struggle,” according to one source close to the situation, referring to the board’s allegations that Charney in 2011 had allowed a blogger to post nude photos of a former employee who was suing the company at the time.

Charney couldn’t be reached for comment. A spokeswoman for Standard General declined to comment.

The recent takeover bid “created tension between Dov and the board and Standard General, and [Charney] got ousted,” according to one source close to the situation, who added that “the stock was in the [50-cent-plus range] when they first approached the company.”

To date, American Apparel has yet to disclose the bids publicly. Investors close to Standard General say the firm has consistently stated it is focused on the long-term operational upside of the company, and isn’t interested in a sale.