Amazon and Forever 21 May Place Bids for Bankrupt American ApparelFriday, January 6, 2017
Amazon.com Inc. and Forever 21 have joined the ranks of suitors interested in acquiring bankrupt clothing company American Apparel, Reuters reported on Jan. 4.
Los Angeles-based American Apparel, which filed for its second bankruptcy within a year in November, already has a $66 million stalking horse bid from Canadian apparel maker Gildan Activewear Inc. for its intellectual property.
Amazon.com Inc. and Forever 21 would have to beat Gildan’s bid and any deal would have to be approved by the U.S. Bankruptcy Court.
Staff reporter Caroline Anderson covers retail, restaurants, and hospitality. She can be reached at firstname.lastname@example.org.