Bankrupt HMX Group Asking For Increased Line of Credit
By: WROC-TV
Updated: November 14, 2012
A bankruptcy judge has approved an increased line of credit for the parent company of Hickey Freeman, which will allow them to make it through the week.
HMX Group, through its attorney, filed an emergency motion in bankruptcy court Tuesday asking for their line of credit to be increased from $2.8 million to $3.5 million. The company says without the increase, they would not have been able to make its payroll for its employees. The increased line of credit will cover HMX until Friday.
HMX filed for bankruptcy nearly a month ago as part of its plan to recapitalize.
HMX Group, through its attorney, filed an emergency motion in bankruptcy court Tuesday asking for their line of credit to be increased from $2.8 million to $3.5 million. The company says without the increase, they would not have been able to make its payroll for its employees. The increased line of credit will cover HMX until Friday.
HMX filed for bankruptcy nearly a month ago as part of its plan to recapitalize.
