The CEO tells us this is not the end of Hickey Freeman, rather this is just the beginning. He says that is why he is addressing employees, ensuring them this company is here to stay.
CEO Doug Williamsn says, "They have my personal commitment that we are going to have American manufacturing, here in Rochester as well as Chicago. I'm fighting for that every day."
Williams says employess are the most important part of this business.
Williams says, "People make corporations, and our people are really what this is about. We want to make sure they know everything that is going on."
Williams came here specifically to talk with workers about the recent filing for chapter elevent bankruptcy. He explains it will help the company recapitalize, after failing to bring in enough money last August. The company is currently in the sale process with Authentic Brands Group, a private equity firm from the west coast.
Williams says, "They come in and help monitize your brands so you can recap your company. They will provide us a license for forty years to utilize the brands, supporting our factories."
The CEO says employees at Hickey Freeman remain positive about their jobs and hopeful for the future.
Williams says, "As long as I tell them whats going on and I'm an open book they'll move forward and do what we need to do to succeed."
The CEO says he is optimistic about the future of Hickey Freeman, and has big plans for the company.