WATERVILLE – A Connecticut company has agreed to buy the assets of Hathaway shirts, which is known by its man-with-an-eyepatch trademark and has been making dress shirts in Maine for more than 160 years.

Windsong Inc. of Westport, Conn., has signed a letter of intent to purchase the assets of its U.S. subsidiaries, including the Hathaway trademark and brand names, equipment and operations at Hathaway’s historic Waterville factory.

The announcement was made Wednesday by John McKernan, a former Maine governor and congressman who is now chairman of Hathaway Holdings Corp.

McKernan said he’s confident Windsong will keep Hathaway going strong in a competitive environment.

The recent downturn in the economy left Hathaway short of cash, and its owners considered filing for bankruptcy.

On Wednesday, McKernan noted that Windsong Chairman Joe Sweedler ran the Hathaway firm in the early 1970s and “has a great appreciation for the history of Hathaway as America’s oldest shirtmaker and its long-standing reputation for making quality shirts.”