April 29, 2025 The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Gildan Activewear Wins Bid to Buy Bankrupt American Apparel

A business icon may be close to vanishing from L.A.’s fashion landscape.

Gildan Activewear Inc. of Montreal, Canada, was the winning bidder at an auction Wednesday and says it will pay $88 million to buy the Los Angeles- based American Apparel as part of bankruptcy proceedings. American Apparel has been in bankruptcy since November — for the second time.

The deal is $22 million higher than Gildan’s original offer in November. It provides for Gildan to acquire American Apparel’s intellectual property rights and some manufacturing equipment, but not American Apparel’s 110 stores, which are likely to close within months.

The agreement could be approved by a Delaware court Wednesday.

Gildan says it plans to integrate the American Apparel brand into its printwear business. The Canadian company makes clothing, including such items as T-shirts, underwear, and socks, under various labels, including its own.

Money_Cash

Related Posts

A vocal flower blooms in Beverly Canon Gardens

April 29, 2025

April 29, 2025

Soprano Golda Zahra comes home to put on a free concert in her old neighborhood “Pa-pa-pa-pa-pa-pa…” The young couple was...

Geffen Playhouse Announces New Season Packed With Premieres and Powerful Voices

April 29, 2025

April 29, 2025

Season to Feature World Premieres, West Coast Debuts and Acclaimed Artists The Geffen Playhouse unveiled its 2025–26 season lineup, featuring...

Culver City Baseball and Softball Teams Gear Up for Crucial Santa Monica Matchups

April 29, 2025

April 29, 2025

Centaur Baseball Seeks Revenge After Last Year’s Setback Against Santa Monica Culver City High School’s varsity, junior varsity, and softball...

LA City Council Set to Dissect Proposed Budget in High-Stakes Tuesday Hearing

April 28, 2025

April 28, 2025

Formal Deliberations Begin Following Passionate Comments From Residents The Los Angeles City Council’s Budget and Finance Committee will begin its...

Kids Learn Season of Science, Biomimicry in Heal the Bay Science Camp

April 28, 2025

April 28, 2025

This summer, kids have the opportunity to engage in science in Heal the Bay’s Aquarium Summer Science Camp.  Heal the...

Century City Couple Honored at Los Angeles Chamber Orchestra Gala That Raised $1 Million

April 28, 2025

April 28, 2025

Skirball Center Hosts Starry Night of Music, Philanthropy, and Community Recognition Century City residents and philanthropists Sandy and Pat Gage...

Los Angeles Residents Accused of Defrauding FEMA After Devastating Wildfires

April 28, 2025

April 28, 2025

Defendants Faked Damage and Residency to Illegally Collect FEMA Aid Five individuals have been arrested on federal charges for allegedly...

Performing Arts Workshops Summer Camp Open for Registration

April 28, 2025

April 28, 2025

Performing Arts Workshops (PAW) has something for everyone this summer. They offer four two-week musical theater camps and eight one-week...

Spring Brewery Artwalk & Open Art Studios

April 28, 2025

April 28, 2025

Where Art Lives. If you’re looking for something fun and different to do, the Brewery Artwalk is holding its Spring...

Culver City Releases New 2025 Wildfire Hazard Maps for Local Neighborhoods

April 27, 2025

April 27, 2025

City Urges Public to Review Proposed Zone Maps and Submit Feedback Culver City residents can now review updated fire hazard...

Gene Simmons Lists Modern Beverly Hills Home for $14 Million Amid Downsizing

April 27, 2025

April 27, 2025

Kiss Rocker is Trimming His Real Estate Portfolio, Parting Ways With a Luxury Home Rock legend Gene Simmons is looking...

March Sees Another Dip in Home Sales as Inventory Grows Nationwide

April 27, 2025

April 27, 2025

Existing-Home Sales Fall, Inventory Builds as Buyers Face Higher Prices Existing-home sales across the United States declined in March, according...

LA City Attorney Drops Charges in Majority of UCLA, USC Protest Arrests

April 27, 2025

April 27, 2025

Charges Filed Against Edan On, After LA District Attorney Dropped Charges Los Angeles City Attorney Hydee Feldstein Soto announced on...

Mayor Issues Emergency Order to Waive Permit Fees for Palisades Residents

April 27, 2025

April 27, 2025

City Departments Ordered to Suspend Collection of Fees for Rebuilding Mayor Karen Bass on Friday issued an Emergency Executive Order...

West Hollywood Braces for Controversial Rally, Reaffirms Commitment to Equality

April 25, 2025

April 25, 2025

City of West Hollywood Condemns Harmful Rhetoric Ahead of Planned Assembly City officials and public safety leaders in West Hollywood are preparing...