USA: Tarrant Apparel Suffers Loss, Restructures Mexico Ops
Private label casual clothing giant Tarrant Apparel Group on Thursday revealed a hefty second quarter loss and said it is holding talks with a third party over the leasing of a large portion of its Mexico equipment and facilities. The "significant change in strategy" will see it concentrate on the development of its private brand business but it has been left with charges totalling $22.3 million related to the write-down of goodwill for facilities and equipment.
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