President Obama's suitmaker files for bankruptcy

[raphael]

http://www.google.com/hostednews/ap/...Z-97gD95TISRG0

The Chicago-based company that makes suits preferred by President Barack Obama has filed for bankruptcy.

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 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.

 

[rdawson808]

Well ****. I really like HSM. They fit me well and look good and I can usually wear a 46R OTR without needing to shorten the skirt of the jacket. Crap. This is very disappointing.

b

 

[JoeWoah]

I don't think this needs Obama's name in the title. HSM going under is bad enough. It's a respected brand.

 

[Connemara]

I have a nice Gold Trumpeter suit somewhere.

 

[tlmusic]

Doesn't Hartmarx also include Hickey Freeman and Burberry?

 

[unpainted huffheinz]

Originally Posted by tlmusic

Doesn't Hartmarx also include Hickey Freeman and Burberry?

They fully own Hickey Freeman and have the license to produce for Burberry. Hickey Freeman makes all of the tailored Burberry in their Rochester factory.

 

[crazyquik]

Originally Posted by unpainted huffheinz

They fully own Hickey Freeman and have the license to produce for Burberry. Hickey Freeman makes all of the tailored Burberry in their Rochester factory.

If they have to liquidate maybe SF can buy Hickey Freeman?

 

[unpainted huffheinz]

Originally Posted by crazyquik

If they have to liquidate maybe SF can buy Hickey Freeman?

The most likely buyer for Hickey Freeman would probably be IAG since Brooks Brothers acquired Southwick recently. A factory already set up to produce mid range to high end suit should be fairly valuable to someone.