There are at least 10 potential bidders for the bankrupt HMX Group, even though president and chief creative director Joseph Abboud has stepped down.
Since the so-called data room became operational a month ago, there have been interested bidders downloading information for their due diligence on HMX. According to sources, some are firms that have been kicking the proverbial tires since trying to get the stalking-horse bid that went to Authentic Brands Group, and others are new firms taking an interest in the bankrupt assets. Any firm wishing to outbid Authentic Brands in a court-approved auction on Dec. 10 will have to pay more than $72.3 million if it wants to get control of HMX.
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