BackS Kumars bid for Obama suits maker Hartmarx
S Kumars bid for Obama suits maker Hartmarx
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Chicago: Apparel company S Kumars Nationwide and its overseas partner Emerisque Brands have emerged as potential bidders to take over Hartmarx Corp, the city-based maker of President Barack Obama’s suits.
Hartmarx, the 125-year-old maker of Hickey Freeman and Hart Schaffner Marx suits, is reviewing offers from five new potential bidders for parts or all of the company, reports the Chicago Sun Times.
Earlier in June, Emerisque and SKNL North America were designated as the stalking horse bidder for Hartmarx, implying that their offer would be accepted if no higher bids emerged.
The two had raised the deal value to $128.4 million from $119 million to buy the bankrupt Hartmarx, whose tuxedo, topcoat and suit Obama wore on his inauguration.
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