Tailored Brands Announces $75 Million in New Financing to Continue to Advance Strategic Plans
March 05, 2021 FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. (the “Company”) today announced the closing of a $75 million investment by a group of existing shareholders and lenders. The financing consists of $50 million of mandatorily convertible notes and $25 million in additional senior secured debt. This transaction will provide additional liquidity for the Company […]
Tailored Brands Successfully Completes Financial Restructuring
December 01, 2020 Company Emerges from Chapter 11 and Eliminates $686 Million of Existing Debt Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G Fashion Superstore Well-Positioned to Continue Delivering Selection, Convenience, Service and Value for Customers FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. and certain of its subsidiaries (collectively “Tailored Brands” or the […]
Tailored Brands Announces Confirmation of Plan of Reorganization
November 13, 2020 Court Approves Plan to Significantly Reduce Debt and Position Company for Future Growth Emergence from Chapter 11 Expected by the End of November FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. and certain of its subsidiaries (collectively “Tailored Brands” or the “Company”) today announced that the U.S. Bankruptcy Court for the Southern District of […]
Tailored Brands Receives Court Approval of First Day Motions to Support Ongoing Operations
August 03, 2020 Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G Fashion Superstore Continuing to Provide Customers with Selection, Convenience, Service and Value Obtains Interim Approval to Access $500 Million DIP Financing Facility FREMONT, Calif.–(BUSINESS WIRE)–Tailored Brands, Inc. and certain of its subsidiaries (collectively “Tailored Brands” or the “Company”) announced that today […]
Tailored Brands Executes Restructuring Agreement to Strengthen Financial Position
August 02, 2020 Restructuring Support Agreement Supported by More Than 75% of Senior Lenders; Files Voluntary Chapter 11 Petitions to Implement Financial Restructuring Plan Men’s Wearhouse, Jos. A. Bank, Moores Clothing for Men and K&G Fashion Superstore Continuing to Serve Customers; Company Continuing to Execute Against Previously Announced Plans to Reduce Headcount and Realign Store […]
Tailored Brands Addresses NYSE Listing Standards
July 24, 2020 FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. (NYSE: TLRD) today announced that it received notification from the New York Stock Exchange (“NYSE”) on July 22, 2020 that the Company is no longer in compliance with the NYSE continued listing criteria that requires listed companies to maintain a 30-trading day average market capitalization of […]
Tailored Brands Announces Plans to Reduce Headcount and Close Stores; Outlines Leadership Changes
July 21, 2020 Expects corporate workforce reduction of approximately 20% of its corporate positions by the end of the fiscal second quarter Up to 500 stores identified for potential closure over time CFO Jack Calandra to depart Tailored Brands and Holly Etlin appointed as Chief Restructuring Officer FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. (NYSE: TLRD) […]
Tailored Brands, Inc. Provides Business Update; Reports Select Preliminary First Quarter Fiscal 2020 Financial Metrics
June 10, 2020 Cash & cash equivalents as of June 5th of $201.3 million, excluding $93.5 million of restricted cash Company has taken decisive actions to manage liquidity As of June 5th, 634 stores, or 44% of fleet, open across the U.S. and Canada Q1 2020 net sales down 60.4% due to the COVID-19 pandemic, […]
Tailored Brands Announces Phased Store Reopening Plans
May 07, 2020 FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. (NYSE: TLRD) today announced plans for a phased reopening of Men’s Wearhouse, Jos. A. Bank and K&G stores in accordance with federal, state and local guidelines in the U.S. The Company expects to open approximately 300 stores by Memorial Day, with the first stores opening in […]
Tailored Brands Adopts Short-Term Shareholder Rights Plan
March 31, 2020 FREMONT, Calif.–(BUSINESS WIRE)– Tailored Brands, Inc. (NYSE: TLRD) announced today that its board of directors (the “Board”) adopted a short-term shareholder rights plan (the “Rights Plan”) to protect the best interests of all Tailored Brands shareholders. In adopting the Rights Plan, the Board has taken note of the substantial impact of the […]