HK Firm Agrees to Buy Warnaco Sleepwear Unit
Warnaco Group Inc., a maker of Calvin Klein jeans and Speedo swimsuits now under bankruptcy protection, will sell its sleepwear business for $10.1 million to Luen Thai Overseas Ltd., a company spokesman said.
The spokesman declined to provide further details of the sale of the GJM unit to Luen, a Hong Kong-based apparel manufacturing and logistics services provider.
Warnaco filed for bankruptcy protection in June, hurt by a slowing economy and debt from acquisitions and licensing agreements.
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