Hartmarx filed for Chapter 11 bankruptcy protection in January. A Hartmarx spokesman says the company has interested buyers and is weighing offers.
Union officials say the factory's 500 jobs could be lost, and they're prepared to fight.
In a statement, San Francisco-based Wells Fargo says it sympathizes with workers, but Hartmarx is unable to pay the $114 million it owes the bank.
The company wouldn't say when a liquidation could take place.