HMX Strapped For Cash, Plants In Danger of Closing
By: WROC-TV
Updated: November 16, 2012
The parent company of Hickey Freeman is taking out a $1 million loan to get them through next Wednesday.
HMX Group filed for bankruptcy at the end of October and has plans to close three of its plants, including Hickey Freeman in Rochester, unless it gets out of bankruptcy. The company's attorney told a bankruptcy judge Friday that it does not have enough cash to pay bills and has been in default since July on some payments. HMX is trying to arrange for financing, but that can't happen until a creditors committee can take a look at the deal.
There are 431 Rochester jobs on the line. Another hearing is tentatively scheduled for next Tuesday.
HMX Group filed for bankruptcy at the end of October and has plans to close three of its plants, including Hickey Freeman in Rochester, unless it gets out of bankruptcy. The company's attorney told a bankruptcy judge Friday that it does not have enough cash to pay bills and has been in default since July on some payments. HMX is trying to arrange for financing, but that can't happen until a creditors committee can take a look at the deal.
There are 431 Rochester jobs on the line. Another hearing is tentatively scheduled for next Tuesday.
