Tarrant Gets Waiver

Los Angeles–based private label denim producer Tarrant Apparel, which technically defaulted on certain covenants with lenders following its third-quarter results released this week, has received a waiver with lender GMAC, bringing the company in compliance. Financially, the company continued to improve, with a 20.6 percent increase in sales to $94.3 million from $78.2 million, as retailers continued to respond to strong sales of fashion denim.