USA: Berkshire Hathaway Completes Fruit Of Loom Deal
Bankrupt apparel manufacturer Fruit of the Loom Inc was on Tuesday finally sold to Warren Buffett's Berkshire Hathaway Inc for at least $835 million in cash.
Berkshire said it had purchased substantially all of Fruit of the Loom Ltd's business operations and that its acquisition completes the firm's emergence from Chapter 11.
Fruit of the Loom's basic apparel business will now operate as New FOL Inc, a wholly owned subsidiary of Berkshire Hathaway.
Up to 28,000 Fruit of the Loom shareholders are in for a windfall after a federal judge approved two class-action settlements against the company....
Clothing manufacturer Fruit of the Loom said it will stop all operations at its Irish production plant in Buncrana in Co Donegal on 26 May, The Irish Times reported....
Apparel maker Fruit of the Loom is to close down its Irish operations a year earlier than planned....
Union Underwear Inc is setting up a new distribution centre in Berkeley County, South Carolina, which will initially create up to 200 jobs....
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