Bankrupt Hartmarx Corp. is seeking a six-month extension of its exclusive right to file a plan of reorganization as bankers continue to finalize a two-party bid for the firm that has a cash value of $70 million.
Chicago-based Hartmarx, which filed for Chapter 11 bankruptcy court protection on Jan. 23, has until May 23 to file its reorganization plan. The extension, if granted, would give the distressed firm an additional 180 days, or until Nov. 23, to file a plan, and next Jan. 22 to solicit creditors’ approval.
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