Associated Apparel Industries, Inc.
Associated Apparel Industries, Inc. was a Chicago, Illinois women's undergarment business which flourished in the late 1920s prior to going bankrupt in 1933. The company is significant because of its expansion and central position as a leader in its market in the 1930s. The corporation eventually succumbed to the poor economy in the United States during the Great Depression.[1][2]
Extension and insolvency[edit]
Associated Apparel Industries, Inc. began as the H. W. Gossard Company, a manufacturer of women's underwear and hosiery.[3]The manufacturer became a conglomerate[4] by acquiring Venus Company and Lamode Garment Company in January 1928, adding $3,000,000 in annual revenue.[5][6] Associated Apparel, Inc., planned to build a plant in Germany to handle its product in central Europe. Its president, R.C. Stirton, sailed for Europe in May 1929, in order to facilitate this intention.[7]
Stockholders of Nature's Rival Company, a firm previously acquired by Associated Apparel, Inc., brought a bankruptcy petition against the conglomerate (business) in September 1933.[8] The suit was filed in the United States District Court in Chicago. It asked for a sum of $1,232,500.[2] After the bankruptcy, H. W. Gossard Company continued to manufacture women's underwear and hosiery, and R.C. Stirton continued as its president until his death in 1945.[9] Gossard remains in business today.[10]
References[edit]
- ↑ "EXCHANGE MOVES TO SUSPEND STOCK; Associated Apparel Industries to Be Dropped From List for Failure to Report. TO REMOVE RAIL ISSUE Mexican Northern Not Traded for Five Years -- Other Changes Announced". New York Times. 13 July 1934.
- ↑ 2.0 2.1 Associated Apparel, Wall Street Journal, September 16, 1933, pg. 5.
- ↑ "H.W. GOSSARD REORGANIZED; Company Becomes Associated Apparel Industries--New Capitalization". New York Times. 30 August 1928.
- ↑ Farrell-Beck, Jane; Gau, Colleen (22 October 2002). Uplift: The Bra in America. University of Pennsylvania Press. p. 52 – via Google Books. Search this book on
- ↑ Associated Apparel Industries, Wall Street Journal, November 24, 1928, pg. 2.
- ↑ "CHICAGO STOCKS SOAR IN BIG DAY; BORG PAYS MORE". Chicago Tribune. November 24, 1928.
- ↑ Associated Apparel Industries, Wall Street Journal, April 18, 1929, pg. 6.
- ↑ "Hear Associated Apparel Bankruptcy Plea". Chicago Tribune. September 16, 1933.
- ↑ "A.J. Trojan Promoted". New York Times. 21 August 1945.
- ↑ "Gossard Lingerie - Over 110 Years of Heritage". Gossard.
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