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Gildan wins American Apparel auction with $88 million bid - source

Reuters India Tuesday, 10 January 2017
NEW YORK (Reuters) - 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 Monday.
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News video: Bankrupt Retailer American Apparel Begins Laying Off Staff

Bankrupt Retailer American Apparel Begins Laying Off Staff 00:45

According to sources familiar with the matter, American Apparel started to lay off staff on Monday this week after Canada's Gildan Activewear withdrew an initial plan to purchase some of the bankrupt fashion retailer's manufacturing operations. Just last week, Gildan won the rights to American...

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