It has has been a rough couple of months in the retail sector as shutdowns due to the coronavirus has forced several companies to seek bankruptcy protection.
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You may soon be able to add another name to that list, Tailored Brands, the parent company of Men’s Wearhouse and Jos. A. Bank.
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The news was reported by Stock Talk via Twitter.
A bankruptcy filing is just one option the company is considering, according to Bloomberg.
JCPENNEY SHUTTING DOWN 154 STORES AFTER CORONAVIRUS-DRIVEN BANKRUPTCY
The company is reportedly reaching out and looking for ways to reorganize its debt which is said to be more than a billion dollars.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TLRD | TAILORED BRANDS | 1.68 | -0.16 | -8.70% |
A statement to FOX Business from Tailored Brands said, “As a matter of company policy, we don’t comment on market rumors or speculation.”
PIER 1 ANNOUNCES CLOSING DATE, WILL LIQUIDATE STORES AMID BANKRUPTCY PROCEEDINGS
Shares of Tailored Brands are down 59 percent year-to-date.
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Among the retail names that have filed for bankruptcy in 2020 include J.C. Penney, Neiman Marcus and Pier 1.
