Here are the current highlights (and lowlights) of the biggest company serving our industries, Gildan.
The company formerly headquartered in Montreal, Canada and now located in tax-friendly and sunny Barbados reports the following:
- Payless going bankrupt cost them a pretty penny: $2.5 million.
- Heritage Sportswear going bankrupt cost them more than a pretty penny: $21.7 Million. They refer to losses in the bankruptcy as “related to the wind down of the Heritage Sportswear operations .”
- They are building a huge textile facility in Bangladesh to open in a couple years to serve International markets and “support other key sales growth drivers.” The land purchase alone was $45million and the factory complex will be sized to accommodate approximately $500 million in sales.
- They are selling more fleece than expected.
The entire press release for those so inclined to read the gory details as reported.