Local retailer Maui Divers Jewelry has floated a bid to buy Hilo Hattie out of bankruptcy for $1 million.

Hawaii’s largest jewelry manufacturer and retailer, which is a creditor in the Hilo Hattie bankruptcy, said the offer is contingent upon a number of conditions, including the ability to negotiate satisfactory leases at all seven Hilo Hattie store locations in the state. A sale also would be subject to approval of the bankruptcy court.
Maui Divers said it would re-hire the “vast majority” of Hilo Hattie’s existing employees, invest a minimum of $2 million into operations and re-merchandise the stores while keeping most, if not all, of the local vendors supplying Hilo Hattie.