American Apparel
American Apparel Business,Business News American Apparel, which was once dubbed “the largest apparel manufacturer in North America,” declared a Chapter 11 bankruptcy in 2015 and then again in 2017. In January of last year, a Delaware bankruptcy court approved the $88 million sale of American Apparel’s brand and intellectual property to Gildan Activewear Inc., a Montreal based clothing company. In addition to the $88 million. Gildan will pay $15 million in order to acquire American Apparel’s inventory and purchase orders. This is done in effort to relaunch American Apparel and reopen a store in Los Angeles, where the company once established itself and became popular. While Gildan’s chief executive, Glenn Chamandy, is still unsure about the future of American Apparel’s relaunch, he has a plan in mind. Gildan is a wholesaler that specializes in making customized t shirts. The company used their background in this field and began relaunching American Apparel by selling low cos...