Obama Suitmaker Hartmarx Files For Bankruptcy

CHICAGO - 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 clothier's products can be found in department stores and mail-order catalogs.

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.

Comments

[SENATORCALLENBOWE]

I HOPE OBAMA OWES HIM A FAVOR :)

[StellaRay]

In this small detail, the insolvency of the company that makes the suits the president prefers, we see the tradgedy of so many businesses put down by this recess, er, depression. The making of something quality, not yet outsourced, dies on the vine.

[luccas]

Finally, a company linked to the President or Treasury office, that does not seek to offload their debt obligations on the common.

[mlaiuppa]

Guess the Bush/Republican bail out hasn't done it's job, has it?

Obama didn't get into office fast enough.

[KarenT]

And now they're trying to keep him from fixing their mess.

[CindyKay]

I would say about 8 years too late . Poor Guy has alot to deal with now.

[voltage356]

Just ask for some bailout money like everybody else is asking for. And since they like tosay that it my money the taxpayers. I say let's give them some money. Oh wait a min i forgot my place they like to call me the taxpayer but prefer to give the money to certain groups of people who contributed large sums of money to office holders.

[OverIt]

Maybe this story will reverse their fortunes. They make a great product!

[Fabini]

Will they still cover his extended warranty?

[Totto]

Marshall Field's, Carson's. the Berghoff, Hartmarx. Isn't it about time that Daley worry about the viability of Chicago business, instead of selling off the taxpayer's infrastrucure?

[mtwocents]

Next weeks Headlines “Obama suit maker see 300% sales increase after reporting near bankruptcy”. As it was for Michelle’s designer, Aretha Franklin’s hat maker, J.Crew and all have seen business soar thru the roof so will it be for Hartmarx Corp. so hang in there!

[mtwocents]

Net weeks Headlines “Obama suitmaker see 300% sales increase after reporting near bankruptcy”. As it was for Michelle’s designer, Aretha Franklin’s hat maker, J.Crew et al. all have seen business soar thru the roof so will it be for Hartmarx Corp. so hang in there!

[alvdh1]

I would suggest that they add a new line of broad striped black and white suits taylored for the Republican criminals headed to the Gray Bar Inn. I am sure they can do a brisk business in prison apparrel, if the new DOJ does its job. They can call it the the Bankruptcy Line of Fine Prison Garb for those who particpated in the moral, constitutional, economic and environmental bankruptcy of America.

[CatladyLinda]

Just wait until the word spreads that Obama buys his clothes from them, then they'll do OK.

[wdw505]

now that's funny.....­.....Mr. bo just need to buy more suits.....­.

[BeachSaint]

My dad loved Hart Schaffner Marx suits. I know there is at least one angel in heaven pulling for this company's survival. Here's hoping there's a prosperous future for this American company.

[Veritas 1]

Fortunately, it seems like the company will be able to get the financing needed to let the company reorganize and live on. I am not a big fan of many of its business units, including Hart Schaffner Marx (not very impressive), but i do like Hickey Freeman's suits and MTM program. They are great value and made in the USA.

[pewty]

Well la-de-da. Look what we got us here! Veritus-1 is one of them thar socialites!!! He knows the best of everything! Tell us uncouth hicks, what brand of knee pads do you wear in the boardroom?

[dlvme2]

What a tacky remark. We need to promote USA products. I did not see anything durogatory in the statement made by Veriatas_1. It is sad that every little remark has to be cut to pieces.

[CarmenCameron]

Perhaps you misspelled your name? It would better read "petty", pewty.