Gildan Activewear Wins Bid for American Apparel


Montreal-based Gildan Activewear has won the bankruptcy auction for American Apparel. The $88 million bid will ensure ownership of the Los Angeles-based brand and some of its manufacturing operations, according to Reuters.

Endowed with roughly $177 million in debt, American Apparel filed its second Chapter 11 last November. American Apparel currently operates more than 250 retail locations.

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