Oxford Industries News
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Oxford Industries, Inc. announced that on January 3, 2011 it consummated its previously announced sale of substantially all of Oxford Apparel, one of its operating groups, to LF USA, a subsidiary of Li & Fung Limited. The net cash proceeds are expected to be in excess of $95 million after the collection of retained accounts receivable, the sale of in-transit inventory to LF USA and the payment of retained liabilities, transaction expenses and income taxes. The Company's Oxford Golf business and a distribution center in Lyons, GA, which were part of Oxford Apparel, were not included in the transaction and will continue to be operated by the Company. |
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