Area construction industry estimators tell GlobeSt.com on condition of anonymity the selling price is below the replacement cost of the factory which also has 36,000 sf of office. Industry estimators say a similar structure today would cost at least $50 per sf or about $10 million to build.
Tropical Sportswear, in business since 1927 when it was called Tropical Garment Manufacturing Co., plans to use the sale proceeds to reduce corporate debt, according to the company's prepared statement. Tropical bought the Duck Head business in August 2001 from Delta Woodside Industries for $16 million. Delta Woodside had owned Duck Head since 1989.
The Duck Head label is now manufactured at Tropical's home plant. The label has appeared on clothes since 1865 when Nashville brothers George and Joe O'Bryan began making trousers from closely woven duck fabric.
Chico's sells exclusively designed, private-label women's casual clothing and related accessories. The company's stores operate in 40 states and the District of Columbia. Chico's owns 293 stores; franchisees own 11.
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