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It's a Done Deal: Authentic Brands Group Buys HMX Group
By: Jennifer Diamond Dec. 19, 2012
The final chapter in the HMX Group Bankruptcy story has been revealed. Yesterday, Authentic Brands Group, LLC finalized the acquisition of the HMX Group, which includes the New York basEd Hickey Freeman and Illinois basEd Hart Schaffner Marx brands. Hickey Freeman and Hart Schaffner Marx have long been manufactured in the United States by Workers United members and have become synonymous with producing high quality, hand-tailored menswear.
markets. The deal also will give workers 10 percent of company profits."By ensuring that these manufacturing jobs stay in the U.S., both our members and the communities where they live are winners," said Workers United President Noel Beasley. "This acquisition deal is about more than saving jobs, it's about Workers United members taking an active role to help rebuild the company's future and the nation's economy."Elected officials played a key role in the negotiations to ensure that U.S. jobs were protected during the acquisition process. "Senator Chuck Schumer and Representative Louise Slaughter stood shoulder to shoulder with Workers United members to ensure that the acquisition
deal will protect jobs," said Rochester Regional Joint Board Manager Gary Bonadonna. "Our members have worked hard to produce quality menswear and they worked hard to save the Rochester plant. They will continue to work for a successful future for the brands."
Chicago and Midwest Regional Joint Board. "Losing these jobs in Des Plaines would have set back that community's economic recovery. Instead, Workers United members will be able to prosper from the acquisition as the company repositions and becomes more profitable."The acquisition is subject to final approval by the United States Bankruptcy Court for the Southern District of New York at a hearing scheduled for December 19.
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