Fruit of The Loom Lawsuit
In April 2001, one of Gildan’s other competitors, Fruit of the Loom (FTL), launched a lawsuit, alleging that Gildan had stolen its top-secret strategic document “Plan Sew” and had hired away key executives to gain unfair competitive advantage. FTL was on the defensive after its poor performance in an ongoing pricing war initiated by the arrival of Gildan in the US marketplace in 1997. By the end of 1999, FTL had filed for Chapter 11 bankruptcy in the US. The lawsuit was subsequently stayed by mutual agreement between the two companies. Gildan even attempted to buy out the faltering company, but Fruit of the Loom was eventually purchased by Berkshire Hathaway Inc.
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