Home / news / American Apparel going Canadian in $88M deal

American Apparel going Canadian in $88M deal

collected by :Rechard Bernard

follow the latest news of” market news” from different sites to most famous technicals /Kevin Mccoy by 2017-01-16 at 8:19

as declared in

American Apparel going Canadian in $88M deal

American Apparel going Canadian in $88M deal*/

– Skip in Skip x Embed x Share A Canadian apparel maker, Gildan Activewear, is buying American Apparel for about $88 million in cash.NewslookFile photo taken in 2014 shows passers-by outside an American Apparel store in the Shadyside neighborhood of Pittsburgh, Pa. (Photo: Keith Srakocic, AP)American Apparel’s ownership is on the verge of heading to the Great White North.Canada-based Gildan Activewear (GIL) on Tuesday said it has won a U.S. bankruptcy court-supervised auction for the embattled California-based fashion company with a roughly $88 million cash bid.
.

read more from here

American Apparel Stores To Close After Canadian Purchase

American Apparel Stores To Close After Canadian Purchase*/

– American Apparel is going Canadian.The embattled clothing company is closing all of its retail stores and Los Angeles headquarters after its purchase last week by Montreal-based company Gildan Activewear, The Los Angeles Times reported.All 110 American Apparel stores will close by the end of April, with as many as 3,400 employees expected to lose their jobs.
.

read more from here

The fate of American Apparel has been revealed

The fate of American Apparel has been revealed*/

– Sealing the fate of an iconic — but flailing (and, over the years, problematic) — made-in-the-U.S.A. brand, American Apparel was purchased at auction yesterday by clothing wholesaler Gildan Activewear after filing for bankruptcy twice in the last two years.The Canadian company, based in American Apparel founder Dov Charney’s hometown, Montréal, bought AA’s intellectual property rights — meaning, essentially, the right to its branding — and some of its manufacturing equipment for $88 million.Gildan said in a press release that it will separately purchase some of American Apparel’s inventory to “ensure a seamless supply of goods to [Gildan’s] printwear channel.”The Gildan sale did not include any of American Apparel’s 110 retail locations, however, leaving many wondering where they’ll be able to purchase those oh-so-soft cotton basics.
.

read more from here

Say Buh-Bye to Your Fave Bodysuits: American Apparel Is Closing Its Doors

Say Buh-Bye to Your Fave Bodysuits: American Apparel Is Closing Its Doors*/

– Pour one out for your favorite basics go-to as we know it: American Apparel is officially closing the doors to all 110 of its retail stores.Following some brow-raising concerns for the once-booming brand, including bankruptcy, controversial ads, a fired CEO and outsourced production, which we reported on back in August, the inevitable has finally happened.Canadian brand Gildan (the same peeps responsible for Gold Toe socks and Anvil) has acquired the brand, and now, they’re shuttering AA’s brick-and-mortar staples, as well as its headquarters.
.

read more from here

American Apparel Sells IP, Wholesale Inventory For $103M

American Apparel Sells IP, Wholesale Inventory For $103M*/

– American Apparel Sells IP, Wholesale Inventory For $103MLaw360, Wilmington (January 12, 2017, 6:13 PM EST) — Bankrupt clothing maker and retailer American Apparel received court approval Thursday in Delaware for a $103 million sale of its worldwide intellectual property rights and its wholesale inventory to a stalking horse bidder.During a hearing in Wilmington, American Apparel attorney Carl Black of Jones Day LLP said that Gildan Activewear emerged from an auction as the top bidder, having upped their offer by more than $20 million at the Jan. 9 auction.The company also sold two leases for its manufacturing facilities back to landlords…To view the full article, register now.
.

read more from here

read more
visit us
news

Check Also

cheap stocks

Cheap stocks and its trading in financial markets

Cheap stocks, also known as Cent stocks, are ordinary shares of small public companies traded …