January 6, 2017 Comments Off on Amazon, Forever 21 Bid for American Apparel Views: 336 California News, Los Angeles

Amazon, Forever 21 Bid for American Apparel

American Apparel filed for bankruptcy for a second time this past November. Now, Seattle-based Amazon, Los Angeles-based Forever 21, New York-based Authentic Brands, and California-based Next Level Apparel are reportedly considering purchasing American Apparel.

So far, the highest bidder is Canadian-based Gildan Activewear at $66 million. This bid would not grant Gildan ownership of the stores, but rather the rights to American Apparel’s intellectual property and inventory.

A winner is expected to be declared next week.

Read More at LA Biz

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