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Description: Two large shareholders of GIldan Activewear have come to the defence of the company’s former CEO and are seeking to have him reinstated. Glenn Chamandy was both a founder of Gildan and the CEO until earlier in December, when, he says, he was let go without cause. The two shareholders – Browning West LP and Turtle Creek Asset Management Inc – are concerned about the potential impact of the firing on the company’s future growth.

Date:  December 14, 2023



Discussion points:

1) Do you own any Gildan products?

2) If you had a client who was a minority shareholder unhappy with a major decision like this, what would you advise?

3) Page 2-39 of Wiley’s Financial Accounting: Tools for Business Decision-Making discusses Gildan’s liquidity and those of its competitors, Artiza and Canada Goose. Search for more current data to determine which company might be the most liquid.

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