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Buyer Found for American Apparel Factory
Compton, CA-based Broncs Inc. is acquiring American Apparel’s textile facility in Garden Grove, CA. Located at 12641 Industry St., the roughly 100,000-square-foot knitting and dyeing factory deal could be valued between $200,000 and $250,000, and may preserve jobs.
The preliminary deal for the facility was revealed during a hearing in U.S. Bankruptcy Court in Wilmington, Del. More than 330 workers at the Garden Grove facility were expected to lose their jobs as a result of American Apparel’s Chapter 11 bankruptcy.
The clothing company filed for bankruptcy late last year, and warned employees they could be laid off. The company said preserving jobs was a priority in the facility sale process.
A bankruptcy judge approved Gildan Activewear Inc.’s roughly $103-million bid for American Apparel’s brand name and certain assets. The Canadian-based family apparel manufacturer decided not to take on any contracts, store leases or factories as part of the deal.
American Apparel’s SoCal Footprint
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition
