Gildan is High Bidder for American Apparel

Reuters News Agency is reporting that Gildan has made the high bid for American Apparel’s assets at $88 Million. This is unofficial as as the proceeding are supposed to be confidential and also any bid is subject to final approval by a bankruptcy judge on Thursday of this week. If true then they apparently outbid Next Level Apparel, Amazon, and possibly other last minute bidders. They also
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Gildan to Buy American Apparel?

Time to clarify some things about the bankruptcy of American Apparel and the potential purchase by Gildan. Reports in many media outlets that Gildan has bought American Apparel are false, or at least not entirely accurate. They have bid on certain assets but you would not say that it is a done deal. 2. American Apparel retail stores will close. This apparently is true, as Gildan has
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That Was Quick: American Apparel Emerges from Chapter 11

The CEO of American Apparel Paula Schneider says, “This is the start of a new day at American Apparel.” This is in regards to them (as expected) exiting Chapter 11 Bankruptcy at the end of last week. So ends any value to stock that was held and they are now a privately held company, American Apparel LLC. You can read the American Apparel press release
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American Apparel To Move On Without Dov Charney – Bankruptcy Judge Rules

The New York Times has reported that a bankruptcy judge in the American Apparel bankruptcy reorganization case has ruled out Dov Charney’s 11th hour appeal for a different plan and this will leave Señor Charney out of the company on all levels. The Times reported however, “The judge expressed sympathy for Mr. Charney. “I have no doubt that he wants the best for American Apparel,” Judge
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American Apparel Declares Bankruptcy – Relax

The New York Times this morning is reporting that American Apparel has filed for bankruptcy. It always is a scary word, this “bankruptcy,” but at least two big equipment manufacturers and one big garment company in our industry have gone through it and come out as very strong companies afterward. There really should different words, but instead we have the chapters of the U.S. Bankruptcy Code to
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American Apparel Lives to Fight Another Day

Several sources today say that American Apparel has filed for Chapter 11 bankruptcy. This does not affect screen print shops, don’t get your (skimpy American Apparel) panties in a bunch over it. Without giving it much thought I can think of at least five large companies in our industry that have been through Chapter 11. This move by American Apparel for the most part turns creditor’s
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