Williams entered a bid of $2.1 million for the company in a last-minute filing with the court on Friday.
The bid was $200,000 more than the existing bid of $1.9 million by Cleveland businessman Allan Jones.
Monday, the Hardwick attorneys released their communication with Williams’ counsel, saying the bid was unqualified both because there was no cash deposit and because the filing contained “insufficient documentation and evidence of ability to pay cash for the overbid amount.”
Williams told the Banner Tuesday morning his goal was to keep Hardwick Clothes “in the family” and he would do “all I can to make it happen.”
The subpoena was filed by Jerrold D. Farinash, counsel for Jones CapitalCorp. and, according to court filings, was served by hand to Williams.
The document orders Williams to produce the following documentation at Friday’s sale hearing:
1. A copy of the May 2014 bank statement for each and every account on which [Williams] is a signatory or owner;
2. Any document(s) which would show that as of May 16, 2014 [Williams] personally had “the financial capacity to pay in cash an amount that would significantly exceed the current bid submitted for” [Hardwick Clothes];
3. Any document(s) which would show that as of May 16, 2014 [Williams] had immediate access to $2.1 million in cash;
4. Each and every correspondence between [Williams] and anyone on behalf of [Hardwick Clothes] wherein [Williams] made a request for any due diligence material between March 19, 2014 and May 16, 2014; and
5. Each and every correspondence between [Williams] and anyone on behalf of [Hardwick Clothes] wherein [Williams] made a request for any due diligence material on or after May 16, 2014.
The hearing, before Judge Shelley D. Rucker, is scheduled for Friday at 9:30 a.m. in the U.S. Bankruptcy Court in Chattanooga.