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43 Congressmen ask Geithner to help Hartmarx

May 21, 2009 3:29:31 PM PDT
Forty three members of Congress sent a letter to Treasury Secretary Timothy Geithner, urging him to get involved in the bankruptcy of clothing maker Hartmarx.The group wants Geithner to convince Wells Fargo not to liquidate the company's assets to save thousands of jobs.

Wells Fargo is the company's biggest creditor.

Illinois congresswoman Jan Schakowsky wrote in the letter. She said banks like Wells Fargo received bailout funds so they could remain solvent. Instead, she says, they are freezing loans and putting small businesses in danger of closing their doors.

Hartmarx filed for Chapter 11 bankruptcy protection in January.

There is one company interested in buying Hartmarx but its offer expires on Thursday night.


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