Jan
10
American Apparel Bankruptcy Deal Leaves Retail Future in Doubt
By-
Gildan wins auction with $88 million bid for brand, equipment
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Clothing maker’s stores, factory leases aren’t part of sale
American Apparel, once a high-flying retailer that peaked at more than $600 million in sales, is probably headed toward liquidation after a bankruptcy auction ended with Canadian T-shirt and underwear maker Gildan Activewear Inc. buying intellectual property and other assets for $88 million.
This transaction doesn’t include American Apparel’s stores, and the fate of its garment workers in Los Angeles remains in doubt. The company had 4,700 employees and 110 stores as of November, when it filed for bankruptcy for the second time in 13 months…
American Apparel Bankruptcy Deal Leaves Retail Future in Doubt
