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Montreal-based apparel firm sells fashion fabrics business unit
16 Oct '06
1 min read
Ladies' fashion apparel importer Algo Group Inc announced the sale of certain of the assets of its fashion fabrics business unit in the United States. The proceeds from the sale are being used by the Company to repay certain of its liabilities.
As a result of the sale, the Company`s fashion fabrics business unit, which had been comprised of Hamil America Inc, as well as the Hamil Textiles division of Tangiers International Ltd will cease its activities which consist of the designing, importing, selling and distributing of fabric material to wholesale and retail customers.
Leading apparel firm Algo Group designs and imports fashion fabric marketed through North-American apparel manufacturers and retail outlets. The Company also imports home furnishing products that it markets to retailers in North America.
As a result of the sale, the Company`s fashion fabrics business unit, which had been comprised of Hamil America Inc, as well as the Hamil Textiles division of Tangiers International Ltd will cease its activities which consist of the designing, importing, selling and distributing of fabric material to wholesale and retail customers.
Leading apparel firm Algo Group designs and imports fashion fabric marketed through North-American apparel manufacturers and retail outlets. The Company also imports home furnishing products that it markets to retailers in North America.
Algo Group Inc
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