Complex sentence: In an interview, Rappaport said that his applications to build mills had been denied in the U.S. and abroad on the basis that American men would not spend $25 on a knitted shirt.
Split into simpler sentences: In an interview, Rappaport said that his applications to build mills had been denied in the U.S. and abroad. The reason he cited for the rejection was the basis that American men would not spend $25 on a knitted shirt.