Sara Lee files plans for apparel spinoff

Sara Lee Corporation has filed information with the SEC on the spinoff of its apparel units. The new company, to be called Hanesbrands, will include Hanes, Playtex, Bali, Champion and Wonderbra, and will total $4.7 billion in sales -- making it one of the largest apparel firms.

The spinoff is planned for completion by September.

Sara Lee is seeking to transform itself into an entirely food, beverage, and household products firm.