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Hartmarx Corporation
Hartmarx Corporation Files Chapter 11 Petitions to Enhance Liquidity While It Reorganizes
February 15th, 2009
Hartmarx Corporation (HTMX), announced that it and its domestic U.S. subsidiaries have filed voluntary petitions for protection under Chapter 11 of the U.S. Bankruptcy Code. In conjunction with the filing, the Company's existing lenders have ratified and re-affirmed up to $160 million of pre-petition commitments as a debtor-in-possession (DIP) credit facility. The DIP facility, subject to additional terms and conditions, provides immediate liquidity while the Company pursues strategic alternatives, enabling the Company to pay vendors for goods and services received after the filing. In addition, Hartmarx is seeking customary authority from the U.S. Bankruptcy Court to continue operating...
Source: Pharma Investments, Ventures & Law Weekly (2009-02-15)
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