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Owner of Obama’s Suit-Maker Files for Bankruptcy

Des Plaines clothier Hart, Schaffner & Marx’s owner filed for chapter 11 on Oct. 19, Bloomberg reported.

HMX Acquisition Corp., the parent company of Des Plaines-based suit-maker , filed for bankruptcy in New York on Friday, Bloomberg reported.

The Des Plaines Hartmarx plant was in danger of closing in 2009 when, while in bankruptcy protection, the company’s main creditor, Wells Fargo, threatened to cut off future funding if it chose a London-based investment firm, Emerisque, as its buyer, the New York Times reported.

Des Plaines Mayor Martin Moylan and other elected officials have championed the clothier as a success story, keeping jobs in the U.S. President Barack Obama wore a suit made by Hartmarx during his inauguration. Moylan announced his candidacy for state representative of the 55th Illinois House District at the clothing manufacturer.

Des Plaines City Council approved an application for .

More recently, in July, Mayor Moylan and Rep. Jan Schakowsky sent letters to the U.S. Olympic Committee asking them to consider Hartmarx to produce the U.S. Olympians’ official outfits for the opening and closing ceremonies in London. Designer Ralph Lauren provided the uniforms, made in China. The selection of a manufacturer not based in the U.S. drew criticism from politicians.

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Mr. Truth October 20, 2012 at 03:31 PM
Hey didn't Alexi" Giannoulias save that company.....yea right !

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