The battle for bankrupt Hartmarx Corp. entered a new stage Friday as Wells Fargo charged Emerisque lacked the financing to buy the American apparel firm or a commitment to U.S. jobs if a deal can be struck — contentions the London-based private equity company firmly denied.
Wells Fargo, the lead agent for the group of banks providing financing to Hartmarx, said the group opposes the offer because Emerisque “fails to provide adequate value to Hartmarx’s lenders.” It said Hartmarx, in bankruptcy since January, owes the banks more than $114 million.
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