Canadian apparel maker Gildan Activewear Inc. (GIL, -0.59%) has won a bankruptcy auction for U.S. fashion retailer American Apparel LLC (CURXQ) after raising its offer to around $88 million, a person familiar with the matter said Monday.
Gildan’s takeover marks the end of an era for the iconic Los Angeles-based company, which was founded in 1998 by an eccentric Canadian university drop-out and grew to become a part of U.S. popular culture thanks to its racy advertising.
