Home / Knowledge / News / Apparel/Garments / HMX gets $65mn DIP credit facility from Salus Capital
HMX gets $65mn DIP credit facility from Salus Capital
23
Oct '12
Salus Capital Partners, LLC announced it has provided a $65 million Debtor-in-Possession (DIP) Credit Facility to HMX Group, a leading designer, manufacturer, and marketer of men’s and women’s business and leisure apparel. The DIP financing will be used by HMX Group to provide working capital as the Company operates under Chapter 11 of the U.S. Bankruptcy Code.

“We are pleased to provide a DIP facility to HMX Group that provides the Company with the liquidity, time and a runway to effectuate a transaction that seeks to maximize value for all of the Company’s constituencies – its employees, management, shareholders, vendors, and the estate,” said Andrew H. Moser, President of Salus Capital. “HMX Group has our unwavering support during this critical period and we are delighted that our transaction will provide them with the necessary resources to run an efficient and orderly sale process.”

HMX Group is a leading tailored clothing company, with a diverse portfolio of brands, both owned and licensed, that are distributed through domestic and international retail channels. The privately held company is home of men’s and women’s luxury, specialty and mainstream apparel brands such as Argyleculture, Austin Reed, Bobby Jones, Christopher Blue, Hart Schaffner Marx, Hickey Freeman, Jag Jean, Misook, and Worn.

Since launching in January 2012, Salus has provided loans to 16 companies throughout North America with circumstances ranging from turnarounds to emerging growth situations. To date, Salus has also provided three DIP financings to RoomStore, Inc., StraussAuto and now HMX Group.

Salus Capital is a provider of senior secured asset-based loans to the small and middle-market across a variety of industries with additional complementary financing throughout the capital structure.

Salus Capital Partners LLC

Must ReadView All

Courtesy: Applied DNA Sciences

Apparel/Garments | On 24th Feb 2017

SigNatureT DNA can help prevent apparel counterfeiting

SigNatureT DNA is forensic molecular tag by Applied DNA Sciences...

Textiles | On 24th Feb 2017

Pakistan's textile exports down 1.54% in July-Jan FY17

The value of textile and garment exports made by Pakistan decreased...

Courtesy: The Irish News/Christian Cowan (Google)

Fashion | On 24th Feb 2017

Google & Christian Cowan create 'really blue' jeans

Google has partnered with British fashion designer Christian Cowan to ...

Interviews View All

Rahul Bhadani
Looksgud

Navigating through catalogues is a bit hasslesome

Anavila Misra
Anavila Collection

Fashion shows are also encouraging and highlighting sustainable fashion

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
February 2017

February 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search