Tailored Brands Inc., the parent company of Men’s Wearhouse and Jos. A. Bank, has filed for bankruptcy after the coronavirus pandemic slashed demand for dress clothes. The publicly traded company filed for chapter 11 protection Sunday in the U.
Source: News Formal (newsformal.com)
Overpriced... every single one of these stores.
They we’re toast long before TrumpVirus, the work place has been growing into a more casual energy for years and high end offices buy better cuts regardless. Selling clothing for funerals and weddings is a challenge.
The Trump virus. Look to the chief. He did it.
If unemployment is reduced to 200 per week expect a rapid deterioration of the economy.
itsmirabisa Do you guarantee it?
Jobless..
Hold on to your butt. Here comes a depression and this criminal syndicate of an administration is doing nothing but stuffing their own pockets.
Every thing should be on SALE!!! But
How will this affect the Bear community?
Sad.
Sad just sad
Sure miss the old commercials with George Zimmer, Your going to like the way you look. Classics, what a shame all this has become.
T
let them wear bit coins! $db $btc $lb $apo
They ran out of no pants suits!
Wow. Wow. 😳 Woe! Everything is crumbling and shutting down. An entire mall in my neighborhood has closed for good. We won’t be bouncing back soon. Let’s get real. The USA 🇺🇸 is in deep shit 💩 thanks to this administration. They won’t admit to any failures. Sad bunch of squares!
I maintain they shouldn't be allowed to call themselves 'Jos A. Bank' if they're not a bank.
Don't know how they thought they'd make money doing Buy 1 Get 6 Jos. A. Banks suits permanent promotions.🤷🤦
We are facing a collapse of our entire economic system if we don’t find a way to balance slowing the virus while keeping our businesses running!
Well, that's an old people's store.
We’re sinking fast folks.
That's just sad
Every department store will be eaten up by brands built on the Shopify platform. $SHOP
When are financial news orgs going to tell the public THE BASIC TRUTH, both companies & Lord & Taylors are owned BY PRIVATE EQUITY. NRDC Equity Partners meaning it's a group OF A FEW ULTRA wealth people closing or reorganizing & never paying THEIR debt only to do it again.
Perhaps they will restructure as the 'Sweatpants Wearhouse'
I have not been to a brick and mortar store for almost ten years. I buy online, it arrives, I like it I keep it, I don’t it goes back. I can purchase from a store anywhere in the world in less than an hour. Much easier than spending an entire day in maybe three local stores.
Little by little we are losing our American brands. eBay has all these brands at huge discounts!
The pandemic only moved the bankruptcy date up a little.
I managed stores for the Men's Wearhouse in the Washington DC market and it became number one in the company before we moved to New York, what a tremendous far from grace.
ya gonna like the way you look, but I cannot guarantee it.
More to come! Thank the Democratic Party!
Trump is just letting companies fail so he can line his own pockets during this pandemic CrookedTrump
Nowhere to go to dress up during these times
makes sense. you don't need to buy a suit if you ain't going to work
1JoyfulSparrow I'm still not wearing pants.
Overpriced fast fashion has come to an end for numerous reasons.
TheDailyShow
tailopez
Not a surprise here. Sales for suits were slow because of the pandemic.
another one bites the dust
I'm surprised. The market for suits should be up with all the deaths and funerals.
FantasyFBBS
Trump's and the GOP's failure to properly tackle COVID19 has doomed the nation to bankruptcies of 10,000s of businesses. Putin couldn't have found a better way to harm the nation. It will take generations to recover.
Waiting for Wall Street to declare bankruptcy next. All of these stores closing tells me that the DOW is creating fabricated numbers.
TrueAnonPod yungchomsky thank u for keeping us informed
Shiiiit
Damn. At this rate, there will be nowhere to buy a suit. That’s the 5th major suit company I’ve seen file for bankruptcy.
Wow.
Not entirely surprised. MW was completely overpriced.
Does this mean stuff is on sale? lol
wow lots of big names going under, but yet we are supposed to get jobs and little or no unemployment benefits...ridiculous
But Men's Warehouse guaranteed we'd like the way we look.
Men's Warehouse and Jos. A. Bank were wounded pre-pandemic, but covid pulled the dagger out.
Amazing how COVID is reshaping our whole economy. Invest in companies that make sweats and other stretchy, comfy clothes.
You you just your founder and get f'ed
One step closer to getting the proles to all wear matching grey state-issued jumpsuits. Equality
It’s the times. I have a walk-in closet full of suits, another one full of casuals, another one with more casuals, about 30 hats. Now nowhere to wear all that shit. Good job, donnie.
Well shit. Whos gonna honor the lifetime suit tailor i ha e. Ffs.
George wouldn't let this happen, but then that's the price of going public to expand the company. Now look!
Looking forward to all the 'you'll like the way you look' jokes....
It's like they want women to do all the work now.
Unfortunately by not getting the virus under control it’s worse for businesses public health and the economy are linked
Next tRump will be demanding kids wear dress clothes & suits when they return to school.
Jos A. Bank didn't bank on ISIS in America attacking the USA economy. BLM don't dress for work, they dress for beheadings and stonings. But, black is the palette. They don't cotton to brightness & vibrancy. They are more terror, atrocities and misery. (death to all American pigs)
So are both of these firms more victims of Equity funds ? Have equity funding been the demise of so many other firms after pealiging the companies of cash? If we had an independent financial journal that would look into these events, that would be wonderful. We did once.
Can’t say couldn’t see this coming. At one point in commercials they were advertising “buy one get 8 free”
While most of us think of bankruptcy as an economic event, look at our PESTEL breakdown: it's clear that there are social implications as well. If trillions in stimulus can't save companies, what will? Link: economy social society
This doesn’t surprise me. Lord & Taylor is a really boring place to shop. They’ve been on life-support for years. Just too bad all those people will lose their jobs.☹️
shoulda shifted to pajamas sooner
Stop charging super high rates for rentals with shit quality and learn to manage your business properly. No pitty for stupid business leadership or policy.
No!!!!
Not just dress clothes - needlessly overpriced dress clothes.
ApacheChief_ Smontano23 im_ALL_in10
Trash company. Not surprised they’re failing.
W👀👀👀👀W
So is this considered 'winning at capitalism'?
Didn't Michael Burry own a huge ton of stock in this company?
Just make it a dating site..... Men's Warehouse...'Where every woman can find a man of her dreams at her own risk'
Donald Trump has bankrupted everything he’s touched and you people voted him for president. It’s what you deserve.
lilduxfan
poor lorde :/
Soon there will be no bricks & mortar stores left. Plus, look at all of the people who will be unemployed. We all wanted convenience with ordering from home with the orders delivered, but the cost for our convenience, has caused a horrible downside. lordandtaylor MensWearhouse
Lets go !! EWNielsen
Haven't these three companies already gone bankrupt many times over? It seems like an annual event for these names. Or maybe it's just the annual 'Going Out Of Business' Sales in their stores every year that I'm thinking of.
Alternative greatness.
Wow, some great winning right there. But its not bigly winning until you have 5 bankruptcies at least.
I may live in the south, but it was really rare to find people wearing suits about unless they were a lawyer or something around here. Even 'Sunday best' was more business casual these days. Dont know if that scales up nationally but, it already seemed like a waining trend to me
Sorry to hear..
Find anything in one of those stores that's not made in China. The biggest elephant in the room when it comes to US dependency on foreign manufacturing. Even food ingredients.
Suits and ties are obsolete.
'It's just progress it was bound to happen anyway' anyone wonder technological 'progress hasn't bankrupted over %60 percent of retailers in countries in Asia and Europe. People need money to spend and they can't really spend when they're drowning in debt
If the President would’ve taken the advice of Biden or his advisors in January, we could’ve been up & running in May like other countries...but he had to play the game! Penny wise & pound foolish! 3 months of pain vs. 6 months & counting...150K deaths and counting!
Aha, that’s why The Market is up, more corporate failures in the face of the economic devastation of the USA. Robin Hood are jumping in on this opportunity to lose everything. Idiots think Trump can artificially prop up a failed market forever as he weakens the Dollar
Smart move. Why pay for your buildings when you aren’t making money. They still get to own them...
You’re gonna like the way you broke
At least Men's Wearhouse can't say they have nothing to wear for bankruptcy court.
Unfortunate for them. Got the government they want only to find out he's all talk and no action, can't move their business to Mexico anymore because Americans are now prisoners behind the very walls they built.
So sad so many lives have been affected by this pandemic!
Looks like weinstein logo
As a former employee of Men's Wearhouse, this doesn't surprise me. Even before the pandemic, the company was on shaky ground. The ousting of George Zimmer and the purchase of Jos. A. Bank is what really did it.
I GUARANTEE IT!!! CANCELLED
That sucks
Gotta take advantage of the free tailoring that came with the suit purchase while I still can
Two lousy men's stores closed. It is a good day.
What are guys wearing to all the COVID funerals
Everything is fine, the CEO and senior execs will still have all their $$$$$, homes, yachts and cars All good
That is so sad all of the stores that were so popular when I was growing up are falling to the wayside 😢
Too bad they wouldn’t listen to georgezimmer. He went and founded another successful company in GenerationTux .
This could be the end for Taylor. I don't see a way to preserve the company. Same with Victoria's Secret.
It’s chapter 11 bankruptcy. They’ll still be around.
Tell them we said send the stuff to TJ Maxx and Marshall’s.
Time to get some suits
I’m shocked this didn’t happen sooner
Wow, Trump stated he created the best economy since.....so many companies are closing down, taking hungreds of jobs with them.
This is really sad news! menwarehouse we would be happy to take suits if you are looking for a place to donate to.
They should start promoting men's custom made burial suits. That business is booming!
So now I can go get that suit I wanted!
Chapter 11 bankruptcy means all of their vendors, employees and landlords get screwed while senior management continues to rack it in! Ain't America great!
George Zimmerman said ' I guarantee it!'
RealtorRushClt CoachJGrice JoeLHughesII Fellas...it’s time to get suited and booted 🤣
Karma is a MEAN 'B---H'! Men's Wearhouse forced out its founder George Zimmer and now look what has happened. Couldn't have happened to a nicer bunch..Ha, Ha, Ha!
Do Men still wear suits? If so, do they need 5 to 7 suits like in the decades prior to 2000? I wore them in the 80's but not since the late 90's - I haven't owned a suit since 98. If i need one for an event I RENT - Times change ~ Dress Codes Evolve.
Can u imagine liking the way you look and have no job to go to?
AmandaPresto There goes all of the 'Buy one suit, get seven free' deals
Tom_Winter Wow :-(
Could be because lots of people are working from home?
won’t get talked about but Zimmerman was right when he got kicked out. He’s whole deal was they needed to stop trying to compete with Macy’s and compete with Dilards. Also the Jos A Bank board pulled one on them as they bought out of Ego and didn’t know what they were getting
Off to buy rompers and hair bows yaaaaaaay
No
No weddings, no proms, no job interviews, so no tux rentals or purchases, and no new suits.
Hope they have a huge clearance sale. Need a new suit for my daughter’s wedding in October.
This is sad. Maybe DonaldJTrumpJr and mattgaetz should have come in and had their suits tailored.
Maybe if things were more affordable there...
Men We need Your Help! LetHerSpeak Jo Jorgensen is running For President only MSM is BLOCKING her!!
2020 New Business Casual
They were in trouble long before the pandemic
DrewRichcreek
You're gonna like the way we collapse. I guarantee it!
Casual Friday, then casual every day did that. It also helped make people fat.
Oh man, I liked those places
Meanwhile, companies making sweat pants can’t keep up with demand!
it was a garbage company, scam artists.
This is only the tip of the iceberg.
maggieNYT My drycleaner says a vulume is down 60 %. I wonder why.......
maggieNYT Nearly all retailers will do this after being shut down for so long.
maggieNYT Not that big a loss for the US...0% of their clothing was made here and 0% of the fabric was made here...mostly China!
maggieNYT Lord & Taylor also filed today along with parent company Le Tote. Not much in assets as Hudson Bay Co. owns the real estate.
maggieNYT demand for *overpriced sh*t quality dress clothes. These brands were never doing that well.
UROCKlive1
maggieNYT NYC is boarded up. Small and large businesses going bankrupt every day. Violent crime up exponentially. When are you NYC liberals going to say ENOUGH? When are you going to care about innocents? Poor minorities?
maggieNYT Wtf man... I thought he guaranteed it?
katehegi
What a shame. Style will never recover, tailors will become obsolete...no one will ever know how clothing should really fit or feel. 😢
I would have preferred Men's Warehouse get PPP over Scientology jaredkushner and the Catholic Church
How many more bankruptcies before the Administration shows a sense of urgency? Covid_19 TrumpIsNotWell SmallBiz economy
...almost like after they unceremoniously shitcanned George Zimmer, they went straight to hell. Funny how that shit works.
Ok
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