The rise and fall of Men's Wearhouse, the menswear chain that promised customers for five decades 'You're going to like the way you look — I guarantee it' 2020/08/04 18:33:56 Business Insider
Tailored Brands — the parent company of Men's Wearhouse, Jos. A. Bank, Moores, and K&G Fashion Superstore — filed for Chapter 11 bankruptcy protection on Monday, citing the impact of the coronavirus on the decline of suits and formal wear. However, back when the world was still dressing up and going out, Men's Wearhouse has been a go-to destination to help Americans suit up for nearly 50 years. Founded in 1973 by George Zimmer, the company rose to prominence in part thanks to its well-known commercials starring the founder himself delivering his trademark line: "You're going to like the way you look: I guarantee it." We took a look at the rise and fall of Men's Wearhouse over the decades. Visit Business Insider's homepage for more stories . For nearly 50 years, Men's Wearhouse was synonymous with its tailored bargain suits and television commercials promising its customers: "You're going to like the way you look — I guarantee it." However, with most of the country still homebound amid the coronavirus outbreak, suits and formalwear have gone by the wayside and left the fate of Men's Wearhouse in the balance.
Kirkland, feasting on bankruptcy fees, lands work for Lord & Taylor, Men's Wearhouse 2020/08/03 20:40:06 Reuters
Kirkland & Ellis, already juggling Chapter 11 cases for many of the coronavirus pandemic's biggest corporate casualties, has added two more notches to its bankruptcy belt: retailers Lord & Taylor and the owner of Men's Wearhouse, Tailored Brands.
Men's Wearhouse Files For Bankruptcy 2020/08/03 16:15:00 Zero Hedge
Men's Wearhouse Files For Bankruptcy Tyler Durden Mon, 08/03/2020 - 12:15 As we previewed on month ago in ' Work-From-Home'-Epidemic Set To Bankrupt Suit-Sellers, "I Guarantee It ", on Monday the retail wreck continued on Sunday when Tailored Brands, the owner of Men's Wearhouse filed for bankruptcy, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis. The retailer filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of Texas. Tailored Brands said in a statement that it has entered into a restructuring agreement with more than 75% of its senior lenders, and that could reduce the company’s debt by at least $630 million. The company also said it has received commitments for $500 million in debtor-in-possession financing from its existing lenders. In the court filing, the company listed both its assets and liabilities in the range of $1 billion to $10 billion. The Houston, Texas-based retailer, which was already struggling with competition from fast-fashion brands and a shift to online shopping before the pandemic, said it will continue to build on its previously announced plans to reduce its corporate workforce by 20% and shut as many as 500 stores.
Men’s Wearhouse files for bankruptcy as men sport sweats over suits 2020/08/03 16:10:19 New York Post
Suit retailer Men’s Wearhouse filed for bankruptcy on Sunday as the coronavirus has kept millions of office workers at home and in lounge pants. Parent company Tailored Brands, which also owns Jos A. Bank, filed for Chapter 11 protection in Houston, Tex., after reaching a deal with a majority of its lenders to keep 1,400…