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Gildan to buy bankrupt American Apparel for $66M

November 15, 2016

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Montreal-based activewear brand Gildan has entered into an asset purchase agreement to acquire the worldwide intellectual property rights and certain assets of the American Apparel brand for approximately $66 million in cash.

Also Monday, American Apparel filed for bankruptcy protection under Chapter 11 — its second Chapter 11 filing in a little over a year. The retailer emerged from bankruptcy as a private company this past February.

Gildan will separately purchase inventory from American Apparel in the printwear channel, but will not buy any of its stores.

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