American Apparel is sold at auction to Canada’s Gildan Activewear

For years, American Apparel proudly touted its “Made in Los Angeles” motto. With its sale Tuesday to a Canadian sportswear firm, neither American Apparel’s name nor its motto will ring so true. 

Gildan Activewear agreed to pay $88 million in a winning auction bid for the American Apparel brand and some manufacturing equipment, the company said Tuesday. The deal for American Apparel, which filed for bankruptcy in November for the second time, still requires approval from a Delaware bankruptcy court judge Thursday.