By and and  on May 29, 2009

The future of bankrupt Hartmarx Corp. hangs in the balance more than ever, with the time frame for objections to London-based private equity firm Emerisque as the stalking horse bidder extended to today.

The original deadline for objections was Thursday, but a last-minute extension was granted by the Chicago bankruptcy court as negotiations continue between the constituents, according to a well-placed source. Against that backdrop, there’s been continuing chatter that Wells Fargo/Wachovia, Hartmarx’s lender, is continuing to push for a liquidation of the clothing firm despite public pressure from union officials and lawmakers to allow the sale of the company as a single entity, preserving thousands of U.S. jobs in the process.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus