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Gildan buys American Apparel at bankruptcy auction

Canadian basic apparel maker Gildan just bought American Apparel for $88 million, Reuters reports. This will entitle Gildan to the intellectual property rights and certain manufacturing equipment, but not, significantly, any of American Apparel’s 110 retail stores. 

What is Gildan? Read our inside look at the company here
[Photo: Flickr user Guilhem Vellut]

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