Hampshire Group has inked a deal to sell the stock of Rio Garment S.A. to a group led by the current Rio management, for US $ 6 million and additionally it will receive the existing accounts receivable and certain other assets of Rio totalling to approximately US $ 5 million. CEO of Hampshire Group Paul Buxbaum said, “Our sale of the Rio Garment business will provide significant liquidity to our operations, while materially reducing the working capital requirements.”
Hampshire Group along with its wholly-owned subsidiary, Hampshire Brands is a marketer of fashion apparel across a broad range of product categories, channels of distribution and price points.
