The cash-strapped owner of the Hickey Freeman suit brand has won emergency financing with the help of US Sen. Chuck Schumer (D-NY).
HMX Group — whose suits are worn by President Obama as well as Republican rival Mitt Romney — has secured a temporary credit line as it initiates talks with potential buyers, sources said.
As exclusively reported by The Post on Aug. 1, HMX is gearing up for a sale after being acquired out of bankruptcy in 2009 by India-based SKNL.
The New York-based manufacturer, formerly known as Hartmarx, said the new credit line, led by Salus Capital Partners, “provides the company immediate access to incremental funding for its operations.”
HMX operates a men’s suit factory in Rochester, NY, and the new credit line will ensure it “stays open for business for years to come,” Schumer said.