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 field. The corporation eventually succumbed to the poor economy in the United States during the Great Depression.
Extension and insolvency
The women's underwear manufacturer acquired Venus Company and Lamode Garment Company in January 1928, adding $3,000,000 in annual revenue. 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.
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. The suit was filed in the United States District Court in Chicago. It asked for a sum of $1,232,500.