Exclusive: Next Level Apparel challenges Gildan with bid for bankrupt American Apparel - source
Monday, 9 January 2017 NEW YORK (Reuters) - California-based apparel maker Next Level Apparel has submitted an offer to challenge a $66 million bid from Canadian apparel maker Gildan Activewear Inc for bankrupt American Apparel LLC, a person familiar with the matter said Monday.
A Canadian apparel maker, Gildan Activewear, is buying American Apparel for about $88 million in cash. Gildan is buyng the brand's assets, but is not buying any of the 110 American Apparel retail stores. The deal mus be approved by a bankruptcy court. According to Reuters, other companies that...
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