men's wearhouse news and archive

Tailored Brands ropes in three new senior retail executives

Tailored Brands, Inc. has announced the appointment of three retail veterans to its leadership team. The company said, John Tighe has been appointed executive vice president (EVP) and chief customer officer, Karla Gray has assumed the role of EVP and chief stores officer and Tim Cooksey has joined the organization as SVP of real estate. “We are...

May 4, 2021

People

Tailored Brands CEO Dinesh Lathi to step down

Tailored Brands, Inc. has announced that Dinesh Lathi will step down from his role as president and chief executive officer, effective March 26. The company said in a statement that board members Bob Hull and Peter Sachse will act as Interim Co-CEOs while the board searches for a permanent successor. “It has been my pleasure to work as part of...

Mar. 17, 2021

Business

Tailored Brands secures 75 million dollars in financing

Men’s Wearhouse owner Tailored Brands has announced 75 million dollars in new financing following its emergence from Chapter 11 bankruptcy late last year. The financing comprises 50 million dollars of mandatory convertible notes and 25 million dollars in additional senior secured debt, and will provide additional liquidity for the business as it...

Mar. 8, 2021

Business

Tailored Brands expects to exit Chapter 11 bankruptcy by end of November

Men’s Wearhouse owner Tailored Brands has announced it expects to exit Chapter 11 bankruptcy by the end of November after winning approval for its reorganisation plan by the US Bankruptcy Court for the Southern District of Texas. The company filed for bankruptcy back in August after experiencing a significant hit from Covid-19. In July, the...

Nov. 16, 2020

Business

Tailored Brands files for bankruptcy

Tailored Brands, Inc., parent company of Men’s Wearhouse and Jos. A. Bank, has entered into a restructuring support agreement (RSA) with more than 75 percent of its senior lenders. The company said in a statement that to implement the terms of the RSA, the company has filed voluntary Chapter 11 petitions in the United States Bankruptcy Court for...

Aug. 3, 2020

Business

Tailored Brands 'likely' to file for bankruptcy in third quarter

Men's Wearhouse owner Tailored Brands has announced it is 'likely' it will file for bankruptcy in the third quarter as it grapples with the impact of Covid-19. The company said the impact of the pandemic has “raised substantial doubt about [its] ability to continue as a going concern within one year of the date that [its] condensed consolidated...

Jul. 29, 2020

Fashion

Tailored Brands to reduce workforce, close around 500 stores

Tailored Brands, Inc. is implementing a series of operating and organizational changes due to the unprecedented and industry-wide business disruptions resulting from the coronavirus pandemic. The actions include elimination of approximately 20 percent of its corporate positions by the end of the fiscal second quarter and closure of around 500...

Jul. 21, 2020

Business

Tailored Brands Q1 sales decline by 60.4 percent

Tailored Brands, Inc. reported total retail comparable sales up 2.4 percent and all brands positive in February, however, the company said, in response to the Covid-19 pandemic, on March 17, Tailored Brands closed all stores and on March 20 it closed all e-commerce fulfilment centres in the U.S. and Canada. The company’s e-commerce fulfilment...

Jun. 11, 2020

Business

Tailored Brands reopens ecommerce fulfilment centres, to donate 50,000 face masks

Tailored Brands, Inc. has reopened its ecommerce fulfilment centres effective March 30 and these centres have begun shipping online orders. The company also announced that its factory in New Bedford, Massachusetts, in conjunction with a leading privately held manufacturer and distributor of medical supplies, will begin the production of cotton...

Apr. 1, 2020

Fashion

Tailored Brands furloughs all US store employees

Tailored Brands, Inc. has decided to extend the temporary closure of its retail stores until at least May 4, 2020. In conjunction with the decision to extend the store closure window, Tailored Brands announced it would implement additional cost reductions, including furloughing all U.S. store employees as well as a significant portion of...

Mar. 26, 2020

Business

Tailored Brands reports Q4 loss, sales drop 5.3 percent

Tailored Brands, Inc. for the fourth quarter reported GAAP net loss of 38.6 million dollars compared to net earnings of 3.8 million dollars last year, while diluted loss per share was 80 cents compared to diluted EPS of 8 cents last year. On an adjusted basis, net loss was 22.5 million dollars compared to net loss of 17 million dollars last...

Mar. 19, 2020

Business

Tailored Brands to shutter retail stores in the US and Canada

Tailored Brands, Inc., has announced that in response to the coronavirus and to protect the health and safety of customers, employees and the communities it serves, will temporarily close retail locations in the U.S. and Canada starting March 17 through March 28, 2020. “The safety and well-being of our employees, our customers, and our...

Mar. 17, 2020