American Apparel: Gildan Activewear wins the auction

CDN/USA – Gildan Activewear won the bid in the auction process for the bankrupt textile manufacturer, American Apparel. This was announced by Gildan Activewear on January 10, 2017. According to company accounts, the final offer is approx. 88 mil. US dollars (approx. 83 mil. euros). The sales contract encompasses the worldwide rights of the intellectual property in connection with the brand American Apparel® as well as certain production equipment. Consistent with the original agreement, Gildan will not be purchasing any retail store assets. The Canadian company indicated its willingness to buy in November 2016, in addition to the textile specialists, further companies including Amazon, Next Level Apparel, Forever 21 and the Authentic Brands Group, had announced their interest in American Apparel. It is not known whether one of the interested parties actually submitted a bid.


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2017-01-17T13:09:35+00:00 January 17th, 2017|