Men’s apparel marketer Casual Male Corp., which has been operating under Chapter 11 bankruptcy protection since May 2001, agreed on March 13 to sell its Work ’n Gear catalog/retail business to footwear manufacturer Sandy Point. The deal is subject to approval by the U.S. Bankruptcy Court for the Southern District of New York and to the receipt of better bids at an auction.
Under the terms of the agreement, the $40 million Sandy Point will employ all retail field employees and at least 70% of the Work ’n Gear headquarters employees. Canton, MA-based Casual Male has also agreed to provide transition services to Sandy Point for up to six months after the transaction is complete. Work ‘n Gear sells uniforms and other clothing for hospitality, healthcare, and industrial industries.