Manhattan bankruptcy court has set Wednesday as the new date for submissions of bids in the HMX Group bankruptcy, with Dec. 17 the day a decision is expected to be made on the winning bidder. The deadline was extended by a week, in part because of court delays as the courthouse, located in lower Manhattan, had been closed for a period due to flooding damage from Hurricane Sandy.
Sources said that a number of bids are expected to be submitted. At least one is believed to be for the entire company. Another is said to be just for some of the brands. Currently, Authentic Brands Group has an offer on the table as the stalking-horse bidder. That offer, which includes separating the intellectual property from the operating division, is subject to better offers.
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