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Slaughter on Hickey-Freeman: employees are more assured of their jobs

30
Jun '09
Congresswoman Louise M. Slaughter (D-NY-28), Chairwoman of the House Committee on Rules, applauded the significant milestone reached by Hickey-Freeman's bankrupt parent company Hartmarx.

A bankruptcy court approved a bid by British equity firm Emerisque, joined with SKNL North America, to acquire Hartmarx and Hickey-Freeman. Congresswoman Slaughter's office confirmed late last night that Emerisque does not anticipate problems with the financial transaction going forward and that Emerisque will proceed with the closing which could happen by July 7th.

Slaughter said, "I am relived to have reached this significant milestone. After months of uncertainty, I am thankful that the men and women who work at Hickey-Freeman are more assured of their jobs here in Rochester. Hickey-Freeman has been a Hallmark Rochester company for 100 years. I will continue to work with Hartmarx, Emerisque, and employees to make sure this deal closes as quickly and carefully as possible so that Hickey-Freeman is around for another 100 years."

Rep. Slaughter has stood alongside Hartmarx's union workers in supporting Emerisque's bid since the company has pledged to continue to operate Hartmarx as a going concern, preserve the company's "Made in America" status, and work in a mutually agreeable manner with the union to preserve jobs.

Rep. Slaughter has a long history of supporting Hickey-Freeman and its employees. Once it became clear that Hartmarx was in jeopardy, Rep. Slaughter began working with Wells Fargo, Hartmarx's chief creditor, Hartmarx CEO Homi Patel, and Emerisque officials to avoid liquidation and secure a buyer for Hickey-Freeman that recognizes the company's value and preserves jobs in Rochester.

Over the past several years Slaughter has successfully enacted tariff relief for the high-quality fabrics required by Hickey-Freeman. This work has been instrumental in ensuring that Hickey-Freeman, does not move its operations out of the country, has adequate supplies, maintains competitive prices, and remains one of the profitable components of Hartmarx.

U.S. House of Representatives


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