ABG Eyes American Apparel Buy

Authentic Brands Group is vying to acquire fashion manufacturer and retailer American Apparel, which went bankrupt in 2015, according to Reuters which cited anonymous sources familiar with the sales talks currently underway. 

April 6, 2018

ABG Eyes American Apparel Buy

Amazon and Forever 21 are also weighing offers for the Los Angeles-based apparel retailer.

Authentic Brands Group is vying to acquire fashion manufacturer and retailer American Apparel, which went bankrupt in 2015, according to

Reuters

which cited anonymous sources familiar with the sales talks currently underway.

In addition, reatilers Amazon.com, fashion retailer Forever 21 and fashion brand Next Level Apparel are also considering making offers to acquire the Los Angeles-based retailer.

Reuters

reports that a successful offer would have to top a $66 million stalking horse bid by Canadian apparel-maker Gildan Activewear, which American Apparel agreed to when it filed for bankruptcy.

If Amazon were to acquire the apparel company, it would be a major push for the e-commerce site into own-label fashion and apparel.

In addition to the fashion brand itself, the bankruptcy auction will also determine the future of a major clothing manufacturing plant in California.

An outcome in the auction is expected this week. 

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