The overseas firm that controls men's apparel constructor HMX is in serious danger. The firm is pushing for heavy cuts in costs, sparking the anxiety in workers that one of its key US factories in Des Plaines, Ill. might have to be shut down.
The factory is noted for creating specifically designed suits for President Obama and other high profile customers as recently as last year. But as Maria Pinto has shown us, just because you have the Obamas on your side, doesn't mean it can save your company.
In an employee letter obtained by The Post, India-based textile giant SKNL remarked to its investors in February that it had aimed to slash HMX's costs by 15 percent over the next three years. Sources said the cost of producing a suit in Des Plaines had soared above $150 before the company's bankruptcy. Overseas, a similar suit, which sells at Saks, Dillard's and Nordstrom for about $550, can be made and delivered to the US market for half that cost.
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