Men's Wearhouse owner mulls bankruptcy filing: report
A bankruptcy filing is just one option the company is considering
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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.
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.
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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.