Jones To Proceed With Purchase Of Hardwick Clothes

Sunday, April 13, 2014

Employees of Hardwick Clothes, Inc., received reassurance on Friday that Cleveland, Tn., businessman Allan Jones would continue his company’s efforts to buy the assets of the domestic suit maker.

“While we were disappointed with the amount the Court set as the reimbursement for the expenses we have incurred in the event we are not the successful bidder, we respect the very difficult decision the Court was forced to make in light of the Objection filed by the PBGC,” said Mr. Jones. “We accept Judge Rucker’s decision and plan to move forward in saving this company and its many loyal employees.”

Mr. Jones’ announcement came after the Pension Benefit Guaranty Corporation filed an objection to the proposed deal. Mr. Jones said the PBGC "refused to compromise in U.S. Bankruptcy Court and therefore put more than 220 jobs in jeopardy. Many of the jobs belong to third and fourth generation employees of Hardwick."

Mr. Jones maintained he is convinced Americans can still make suits profitably.  

He said, “Hardwick is the oldest privately owned suitmaker in the USA – founded in 1880 in Cleveland, Tn. - and we are not giving up that longstanding tradition without a fight. Surprisingly, the PBGC is delaying and potentially threatening everything we are working to rebuild.

“From the hearing, it became obvious that the PBGC is strongly suggesting the idea of liquidation. We don’t feel closing down USA’s oldest suitmaker makes any sense.”

Mr. Jones maintained that with the right combination of leadership and capital, Hardwick will regain much of the business it has lost since the ‘80s.

“The biggest asset is not on the balance sheet,” Mr. Jones said. “It’s the 134 years of tradition and all the long-term employees.  It’s hard to put a value on that. That’s what I’m placing my value on. The purchase price is just a drop in the bucket of what it will take to turn this company around.”


Undercover Hostess Launches New Website

Undercover Hostess, the women-owned startup which creates and rents stylish party supplies, announced the launch of their new website,  www.undercoverhostess.com  on Tuesday, Sept. 30. The company debuted a unique and innovative concept for hosting parties: beautifully detailed party kits that customers rent, and are then delivered right to their door.   ... (click for more)

Scott Miller Joins LBMC

LBMC, PC, has added Scott Miller to the Accounting and Assurance services team. Mr. Miller serves as a staff accountant within the LBMC Accounting and Assurance team working with companies in the manufacturing, not-for-profit, and real estate industries. Prior to LBMC, Mr. Miller worked as an intern for both Kraft CPA’s and Parker, Parker & Associates. He earned both ... (click for more)

Attorneys For Life Care Centers Of America Seek Direct Appeal On Key Issue In Federal Lawsuit

Attorneys for Life Care Centers of America are seeking a direct appeal to the Sixth Circuit Court of Appeals on a key issue in the case in which the federal government is seeking millions of dollars in reimbursements, plus treble damages, against the Cleveland, Tn.,-based firm. The attorneys want to appeal a decision by Federal Judge Sandy Mattice that would allow the testimony ... (click for more)

Couple Die In Wreck In Marion County After Vehicle Goes Off Highway In A Curve

Two people died in a wreck in Marion County late Saturday night. The victims were identified as Glenda White, 33, of Palmer, Tn., and Jeremy Braden, 28, of Gruetli Laager, Tn. Both were ejected from their vehicle. They ran off the left side of Highway 108 at a curve while going north. The vehicle went through a fence into a field, before striking a tree and then coming ... (click for more)

Frances Pope Is The Only Answer For East Ridge Mayor

The time is upon us to stand together for a change, a changing of the guard for the better.  A time to elect officials that will actually listen to all the citizens that have concerns. A time to come together to watch East Ridge grow with new development. A time to elect the people in charge of the direction the city goes. A time when community involvement is essential. ... (click for more)

Roy Exum: UT Ain’t Heard Nothing Yet!

Just moments before Florida would seal a football 10-9 victory over Tennessee in early October, the student section in Neyland Stadium stooped to a new low when it vociferously chanted, “F*** you, Florida! F*** you, Florida!” It was shocking, a loud and vulgar display of all that sportsmanship isn’t, and served as a great embarrassment to Knoxville and the university. Jimmy Cheek, ... (click for more)