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CORRECTED-EXCLUSIVE-Next Level Apparel challenges Gildan with bid for bankrupt American Apparel- source
January 9, 2017 / 7:10 PM / 9 months ago

CORRECTED-EXCLUSIVE-Next Level Apparel challenges Gildan with bid for bankrupt American Apparel- source

(Corrects dateline)

By Jessica DiNapoli

NEW YORK, Jan 9 (Reuters) - California-based apparel maker Next Level Apparel has submitted an offer to challenge a $66 million bid from Canadian apparel maker Gildan Activewear Inc for bankrupt American Apparel LLC, a person familiar with the matter said Monday.

It could not be determined whether any other bids submitted for American Apparel were qualified to challenge Gildan.

Next Level’s bid was deemed as qualified by American Apparel to be able to challenge Gildan, the person said. There were also partial bids submitted for the company, including from liquidators for its retail inventory, the person said.

The source asked not to be identified because details of the bankruptcy auction are confidential.

American Apparel and Gildan declined to comment. A request for comment from Next Level was not immediately returned. (Reporting by Jessica DiNapoli; Editing by Bernard Orr)

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