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Discussion Starter · #1 ·
I guess this should not be a huge surprise, and I know it's "just" Ch. 11, but WOW.

Hickey Freeman's Parent Company Files For Chapter 11

Hartmarx says it's been hurt by a decline in sales of its luxury goods and its inability to borrow.
Saturday, January 24, 2009
CHICAGO (AP) — The Chicago-based company that makes suits preferred by President Barack Obama has filed for bankruptcy protection.

Hartmarx Corp. and its U.S. subsidiaries filed for Chapter 11 protection Friday. The company says its Canadian and other non-U.S. affiliates have not sought bankruptcy protection.

Hartmarx is the parent company of Hickey Freeman in Rochester.

Hartmarx makes business, casual and golf apparel under its own brands, including Hart Schaffner Marx.

The company has arranged up to $160 million of debtor-in-possession financing and is seeking court approval to continue operating its business and paying employees.

Hartmarx made a tuxedo, a topcoat and a suit for Obama's inauguration. The company also made the dark-navy custom-made suit Obama wore Election Night in Chicago.

Hartmarx says it was hurt by a drop in demand for luxury goods. The company plans to keep operating while exploring alternatives.

Hickey Freeman employs more than 600 workers at its N. Clinton Ave. plant.
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