ASAP fashion news archive - apparel industry news from before September 2005
This page is part of the ASAP fashion news archive on Apparel Search, which collected apparel, fashion and textile industry news from before September 2005. For current coverage, see the Apparel Search news page and the fashion blog.
From: ASAP
Tarrant Apparel Group (NASDAQ: TAGS) , a leading provider of private label casual apparel, today announced that it has secured a $25 million line of credit from UPS Capital Global Trade Finance Corporation (UPS Capital) to replace the credit line previously provided by Hongkong & Shanghai Bank in Hong Kong.
Eddy Yuen, Chief Executive Officer of Tarrant Apparel Group, commented, "We are pleased to take this important step with UPS Capital and look forward to a long term relationship. Both sides have started to explore the possible expansion of this relationship, including supply-chain finance in Mexico and application of the logistical and distribution expertise of the UPS group to support our long term growth."
Tarrant Apparel Group serves specialty retailers, mass merchants/national department stores and branded wholesalers by designing, merchandising, contracting for the manufacture of and selling casual, moderately-priced apparel, for women, men and children.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from forecasted results. Those risks include a softening of retailer or consumer acceptance of the Company's products, pricing pressures and other competitive factors, or the unanticipated loss of a major customer. These and other risks are more fully described in the Company's filings with the Securities and Exchange Commission.