Nearly 4,000 jobs were saved with court approval of the sale of Chicago-based Hartmarx Corporation to the British firm Emerisque late last week. Emerisque announced plans before the deal to keep many of Hartmarx's Workers United-represented workers.

Earlier this year, workers voted to occupy their factories to prevent Wells Fargo Bank from liquidating the menswear manufacturing company. "The workers deserve this victory," said Ruby Sims, a Hartmarx employee for 31 years, and one of the Des Plaines plant's union organizers. "This is an important milestone for all of us."

"When the time came, you stood up," SEIU Illinois State Council President Tom Balanoff told Hartmarx workers at a rally yesterday. "You said, they're not going to close our factory. You said, we're not going to let you put us on the street. You said, we're not going to let them do this to our children. You stood up and fought. And you know what, brothers and sisters? You won." Watch highlights from a victory rally with workers, Illinois State Council President Tom Balanoff, and members of Congress.

The fight to keep creditor Wells Fargo Bank from liquidating Hartmarx menswear factory appears to ramping up, as the bailed-out bank said today that it is opposing the $119 million bid by the British private equity firm Emerisque to save the bankrupt men's clothier. But don't you worry, because according to the statement Wells Fargo put out today, they are rejecting the offer in question for the good of the workers employed by Hart Schaffner & Marx.

Riiiight. The same 3,000+ workers who will lose their jobs if chief lender Wells Fargo forces the suit maker into liquidation? Just checking.

The union representing Hartmarx workers, members of SEIU affiliate Workers United, do not plan on taking Wells Fargo's blatant push to doom their company to liquidation lying down. From their statement today:

[...] Wells Fargo's statement is a thinly veiled attempt to force liquidation. It is outrageous for a bank that has received billions in taxpayer money to reject Emerisque's generous bid to save the company and thousands of good jobs.

The union has an understanding with Emerisque that it will assume Hartmarx's obligations to their employees including the union contract obligations. In addition Emerisque will not close the Rock Island Illinois facility. Emerisque is committed to the 'Made in America' label for Hickey Freeman and Hart Schaffner & Marx. These are the kind of good union jobs that are needed in our currently depressed economy. We call on Wells Fargo, recipient of 25 billion dollars in taxpayer support, to have a similar commitment to American jobs.

The president of Workers United, Edgar Romney, today also wrote a letter to the bankruptcy judge for the bankruptcy hearing Monday, reaffirming support by the union for the sale of the menswear retailer to Emerisque, believing that this sale "will not only produce the highest and best offer for the Debtors' assets, but will be instrumental in preserving thousands of jobs during a recession of historic proportions." Read the letter.

"It would appear to us that Wells Fargo prefers a liquidation."

In a separate statement, Emerisque also expressed their disagreement with Wells Fargo's stance: "There is a significant gap between [Wells Fargo's] expectations and the reality of where asset valuations are in the current market. Hartmarx ran a sale process that has lasted almost four months before selecting Emerisque as the stalking horse bidder. The fact that the highest bid was selected after such a lengthy process surely tells its own story. The Emerisque bid is fully diligenced, and financing and ability to close are as certain as is possible at this stage of the process and in this environment. Any suggestion otherwise is simply not truthful.

"Furthermore, all that a stalking horse does is establish a 'floor' value for an auction. It would appear to us that Wells Fargo prefers a liquidation."

As we've previously reported on the SEIU Blog, Hartmarx workers in Des Plaines, Illinois and Rochester, NY stand ready to protect their jobs with the 130 year-old Chicago-based menswear factory--even if it means occupying their local factories in a sit-in.

Will you stand with them?