Tailored Brands to come back from bankruptcy this month

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Tailored Brands Inc. said late Friday it expects to emerge from bankruptcy by the end of the month after the U.S. Bankruptcy Court for the Southern District of Texas approved its reorganization plan. “We are extremely pleased to have reached this milestone,” Chief Executive Dinesh Lathi said in a statement. The retailer behind Men’s Wearhouse, Jos. A. Bank and other apparel said it had progressed steadily through its financial restructuring, invested in online and contactless order capabilities, and “further curated” its offerings. “These and other actions taken while in chapter 11 are the continuation of a strategic transformation that started well before COVID-19 and will position us to compete and succeed for the long term,” Lathi said. Tailored filed for bankruptcy in August, part of a wave of pandemic-related bankruptcies that engulfed retailers in particular.
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