After two bankruptcy filings and a high-profile auction, American Apparel's new owner Gildan will close all US stores by the end of April and has also backed off from purchasing the label's manufacturing facilities.
American Apparel LLC's made-in-the U.S. heritage is uncertain after Canadian apparel maker Gildan Activewear Inc won a bankruptcy auction to acquire the edgy retailer but did not immediately assume the company's leases.
Canadian apparel maker Gildan Activewear Inc has won a bankruptcy auction for U.S. fashion retailer American Apparel LLC after raising its offer to around $88 million, a person familiar with the matter said.
California-based apparel maker Next Level Apparel has submitted an offer to challenge a $66 million bid from Canadian apparel manufacturer Gildan Activewear Inc for bankrupt American Apparel LLC, according to a source.
Jeff Bezos may be holding a Trump card in the U.S. retail-store slump. Amazon's American Apparel bid could show the president-elect suspicious of Silicon Valley that he's saving thousands of working-class U.S. jobs.
Online retailer Amazon.com Inc and teen apparel store chain Forever 21 Inc are among the companies weighing offers to acquire bankrupt American Apparel LLC, people familiar with the talks said on Wednesday.
Nearly all the UK stores of U.S.-based clothing brand American Apparel, which went into administration in Britain last month, have closed, with the loss of 147 jobs, administrators KPMG said on Friday.
American Apparel filed for its second bankruptcy protection in just over a year on Monday, weighed down by intense competitive pressures facing U.S. teen retailers and a rocky relationship with its founder.