Colour Image Apparel Inc has plans to bid to buy parts of the American Apparel business. This is the second confirmed bidder after Gildan Activewear Inc’s bid of $66 million last month when the American Apparel first filed for bankruptcy. Colour Image Apparel Inc also owns Alo Yoga which is popular activewear among celebrities such as Gigi Hadid and Kendall Jenner. Despite this, American Apparel might have already struck a deal with Gildan which includes the American Apparel intellectual property and other assets, but excludes the American retail store base. Whereas, Colour Image Apparel Inc is primarily interested in their manufacturing of which there is equipment in facilities in Garden Grove, South Fate and downtown LA.
NEW BID TO BUY AMERICA APPAREL
