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

Textiles | On 9th Dec 2016

ACIMIT signs MoU with Pakistan textile bodies

In a bid to strengthen the trading in garments and textiles between...

Textiles | On 9th Dec 2016

‘Less demand may make it hard to achieve export target’

The $48 billion target for textiles and garment exports for 2016-17...

Textiles | On 9th Dec 2016

GST Council may decrease tax rates in future: CBEC

The goods and services tax (GST) Council might reduce the proposed...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Nitin Soni
Dolphin Jingwei Machines

Taxation policies need to be made simpler

Ajay Ghariwala
Luthra Group

We are ready to adopt or follow every opportunity

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Rupa Sood and Sharan Apparao
Nayaab

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

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Prathyusha Garimella
Prathyusha Garimella

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search