Financial Times FT.com

Chrysler’s bankruptcy experience unsettles observers

Published: May 14 2009 19:03 | Last updated: May 14 2009 19:03

Workers far removed from the automotive industry are wasting no time in drawing lessons from Chrysler’s experience with the US bankruptcy system.

At Hartmarx, an ailing Chicago-area clothing manufacturer that supplied the jacket and overcoat worn by President Barack Obama at his inauguration, employees are pressing its main creditor, Wells Fargo, to find a buyer for the 122 year-old company rather than liquidate it.

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