Hartmarx Corp.(fka HTMXQ)

[Value_Investor]

According the following news HTMXQ would exit from the CH11 this month (12/2012):

Hartmarx warns of possible closure, 567 layoffs at Des Plaines plant

Nov 14, 2012 (Chicago Tribune - McClatchy-Tribune Information Services via COMTEX) -- After filing for bankruptcy last month, HMX Group, the owner of Chicago suit maker Hart Schaffner Marx, has warned the state of the possible closing of its Des Plaines factory and the layoffs of 567 workers there.
The company notified the state last month that the layoffs would take place in December, but CEO Douglas Williams said Wednesday they won't happen if the company emerges from bankruptcy as expected within the next four weeks.

"We do not intend to have any layoffs in our facility in Chicago or in any of our facilities," Williams said.

Founded in Chicago in 1887, Hart Schaffner Marx outfitted President Barack Obama during his 2009 inauguration. That year, parent company Hartmarx filed for bankruptcy and was acquired by SKNL of India, which operates the men's clothier through New York-based HMX.

HMX claimed assets of zero to $50,000 and liabilities of $50 million to $100 million in its filing with the U.S. Bankruptcy Court for the Southern District of New York. The company has some 1,300 workers at plants in Des Plaines; Rochester, N.Y.; and Hamilton, Ontario, according to Williams.

Despite the company's financial issues, Williams says business has been brisk this year for its line of tailored men's clothes.

"Our sales actually are very good -- they're up double-digits," Williams said. "It really has more to do with recapitalization of the balance sheet."

The planned layoffs were filed through the Illinois Worker Adjustment and Retraining Notification Act, which requires businesses with 75 or more employee to give the state 60 days notice of pending plant closures or mass layoffs.

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