EXHIBIT 10.69


     Acknowledgment and Confirmation of Guaranty and Other Financing Agreements

         Each  of the  undersigned,  by  execution  of this  Acknowledgment  and
Confirmation of Guaranty and Other Financing Agreements, acknowledges and agrees
that it is fully aware of,  accepts and approves,  the terms and  conditions of:
(i) the Amended and Restated Accounts Financing Agreement [Security  Agreement],
dated as of June 1, 1997 (the "Accounts  Agreement"),  among Farah U.S.A., Inc.,
Value  Clothing  Company,  Inc.  and Farah  Manufacturing  (U.K.)  Limited,  and
Congress Financial Corporation  (Southwest)  ("Lender"),  amending and restating
the Accounts Financing Agreement [Security Agreement], dated August 2, 1990 (the
"Original Accounts  Agreement"),  between Farah U.S.A., Inc. and Lender and (ii)
all other documents, instruments,  supplements and agreements in connection with
the Original Account Agreement and the Accounts  Agreement,  including,  without
limitation,  (A) each  Guaranty  and Waiver,  dated  August 2, 1990,  by various
affiliates  of Farah  U.S.A.,  Inc.,  (B) each  Supplement  (as  defined  in the
Accounts Agreement),  (C) the ten million  ($10,000,000) Secured Term Promissory
Note, dated June 1, 1997, issued or to be issued to Lender by Farah U.S.A., Inc.
pursuant to Section  2.1.1(e)  of the  Accounts  Agreement,  (D)  Inventory  and
Equipment Financing Agreement Supplement [Security  Agreement],  dated August 2,
1990,  between  Farah  U.S.A.,  Inc.  and Lender,  (E) each Pledge and  Security
Agreement  by  Farah  U.S.A.,  Inc.,  in favor of  Lender,  (F) each  Collateral
Assignment of License,  dated August 2, 1990, by Farah U.S.A., Inc., in favor of
Lender,  (G) each Collateral  Assignment of Agreement,  dated August 2, 1990, by
Farah Inc. and its affiliates,  in favor of Lender, (H) each Pledge and Security
Agreement,  dated August 2, 1990, by Farah Inc. and its affiliates,  in favor of
Lender, (I) the Subordination Agreement, dated August 2, 1990, among Farah Inc.,
Farah U.S.A., Inc. and Lender, (J) Trademark Collateral  Assignment and Security
Agreement,  dated  August 1,  1990 and  August  2, , by Farah  Inc.  in favor of
Lender,  (K) each Patent  Collateral  Assignment and Security  Agreement,  dated
August 1, 1990, by Farah Inc., in favor of Lender, (L) each Amended and Restated
General  Security  Agreement,  dated as of June 1, 1997,  by Farah Inc.  and its
affiliates  in favor of  Lender,  (M) each  intercreditor  and  other  ancillary
document, dated August 2, 1990, as each of the foregoing may have been or may be
amended, modified,  restated,  supplemented and confirmed from time to time, (N)
the General Security  Agreement,  dated as of February 9, 1994 and the Guarantee
and Waiver,  dated February 9, 1994, each by Farah Licensing  Company (now known
as Farah Clothing Company,  Inc.), (O) each Guarantee and Waiver, dated February
9, 1994, in favor of Lender, by certain of the undersigned entities (and others)
for the  benefit  of Farah  UK,  (P) the  Subordination  Agreement,  dated as of
February 9, 1994,  among Farah UK, Farah  Exports  (Ireland)  and Lender for the
benefit of Farah UK, and (Q) the  Debenture,  dated  January 24,  1994,  between
Farah UK and Lender for the benefit of Farah UK  (collectively,  the  "Financing
Agreements").  Each of the undersigned  further  understands that certain of the
Financing Agreements,  but not all of them, are being amended and/or restated as
of June 1, 1997, and,  notwithstanding that the other Financing Agreements shall
be or remain  dated  August 2, 1990 (or another date other than the date hereof)
and shall not be so amended and/or restated, the undersigned expressly confirms,
ratifies  and  approves  in all  respects  all of its  "Obligations"  under such
Financing  Agreements  to which it is a party and all of its other  liabilities,
indemnities, agreements and other obligations to Lender, whether now existing or
hereafter arising, under or in respect of such Financing Agreements.

Dated as of June 1, 1997:

GUARANTORS

FARAH INCORPORATED
FARAH INTERNATIONAL, INC.
VALUE SLACKS, INC.
FARAH MANUFACTURING COMPANY, INC.
FARAH MANUFACTURING COMPANY
OF NEW MEXICO, INC.
VALUE CLOTHING COMPANY, INC.
CORPORACION FARAH-COSTA RICA S.A.
FARAH CLOTHING COMPANY, INC., a
Delaware corporation (previously known as Farah
Licensing Company, Inc.)

By:     /s/ Russell G. Gibson
Title:  Chief Financial Officer


FTX, INC.

By:     /s/ Luis Segovia, Jr.
Title:  President




<PAGE>