|Bid||0.0000 x 0|
|Ask||0.0000 x 0|
|Day's range||0.0000 - 0.0000|
|PE ratio (TTM)||N/A|
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One clothing retailer's misfortune is an opportunity for other shop owners looking for space in Austin's tight market. American Apparel LLC is shutting down all 110 of its stores nationwide after it was bought in bankruptcy — although its locations in the Texas capital remain open for now, with steep discounts offered on all items. The Los Angeles-based clothing manufacturer is expected to close all 110 stores within the next few months and the company has started laying off 2,400 workers at its factories in Southern California, the Los Angeles Times reports .
Canadian apparel maker Gildan Activewear Inc. announced that it acquired American Apparel via a bankruptcy auction. The deal, valued at about $88 million in cash, is subject to approval from a bankruptcy court on Thursday. Included with the purchase are American Apparel's intellectual property rights and certain manufacturing equipment.
MONTREAL/NEW YORK (Reuters) - American Apparel LLC's made-in-the-U.S. heritage is uncertain after Canadian apparel maker Gildan Activewear Inc (GIL.TO) won a bankruptcy auction to acquire the edgy fashion retailer for about $88 million in cash. Gildan said on Tuesday it will buy manufacturing equipment and intellectual property rights related to American Apparel, but the Canadian company did not assume the leases of the retailer's California manufacturing plants, fuelling questions over where the clothing will be produced. Reuters reported late on Monday that Gildan had won the auction, which also attracted bidders such as California-based apparel maker Next Level Apparel and had garnered interest from Amazon.com Inc (AMZN.O) and Forever 21 Inc.