Gildan buys assets from American Apparel

A Canadian company known for making socks and plain T-shirts said Monday it has signed a deal to buy some assets from one of retail’s most provocative and troubled brands – American Apparel.

Gildan Activewear has offered to pay $66 million for the intellectual property rights and some manufacturing and warehouse assets belonging to American Apparel, which filed for bankruptcy in the U.S. “Gildan may maintain production of some higher-value-added signature products in Los Angeles, while shifting some products to facilities in Central America or Mexico,” said an analyst.

Fuente: Toronto Star