Tailored Brands files for bankruptcy as pandemic hammers sales, Retail News, ET Retail

Men’s Wearhouse operator Tailor-made Manufacturers submitted for personal bankruptcy on Sunday, including to a checklist of brick-and-mortar suppliers that have succumbed to the economic fallout from the COVID-19 crisis.

The retailer submitted for Chapter eleven personal bankruptcy in the U.S. Personal bankruptcy Courtroom for the Southern District of Texas, according to a courtroom submitting.

The firm outlined both equally its assets and liabilities in the array of $1 billion to $ten billion.

Clothing suppliers have been amongst the worst strike from the coronavirus crisis as their businesses were being deemed non-crucial and their merchants had to be shut.

Tailor-made Manufacturers stated final 7 days it could take into consideration submitting for personal bankruptcy as quickly as the 3rd quarter, strike by a plunge in profits.

The firm was currently battling with opposition from rapid-manner manufacturers and a change to on-line searching ahead of the pandemic, and stated in July it

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