New York- HMX Acquisition Corp, the parent company of Hickey Freeman, filed for bankruptcy protection Friday with a plan to sell its assets to Authentic Brands Group LLC.
Bloomberg News reports the company listed assets of less than $50,000 and debt of more than $50 million in Chapter 11 documents filed in U.S. Bankruptcy Court in Manhattan.
According to the filing, the purchase deal with Authentic Brands will be tested as part of a future bankruptcy auction.
In a statement Friday, Congresswoman Louise Slaughter said, "Over the last 48 hours, I've been in conversations with senior management at Hickey Freeman and am heartened that the company plans to emerge from bankruptcy with their manufacturing operation intact. The actions currently underway by Hickey’s parent, HMX group, are designed to preserve the iconic Hickey Freeman brand and retain 1,300 American jobs, 400 of which are in Rochester. My commitment to the 400 Rochester-based employees, their families and Hickey Freeman will never waver, and I'm looking forward to meeting with senior management to work together on the company's future."