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Tailored Brands Inc (TLRD.N)

TLRD.N on New York Stock Exchange

0.30USD
31 Jul 2020
Change (% chg)

$-0.08 (-21.23%)
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Volume
1,012,349
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Latest Key Developments (Source: Significant Developments)

Tailored Brands Receives Approval From Bankruptcy Court To Provide Notice To Applicable Landlords
Tuesday, 1 Sep 2020 

Aug 31 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS INC - RECEIVED APPROVAL FROM BANKRUPTCY COURT TO PROVIDE NOTICE TO APPLICABLE LANDLORDS.TAILORED BRANDS INC - REJECTING CERTAIN OPERATING LEASES PRIMARILY RELATED TO COMPANY'S STORES AND VACATING SUCH STORES.TAILORED BRANDS INC - HAS COMMITTED TO A PLAN TO CLOSE UP TO 500 STORES TO BE COMPLETED OVER NEXT SEVERAL WEEKS.TAILORED BRANDS INC - EXPECTS TO INCUR TOTAL CASH CHARGES OF $25 MILLION TO $40 MILLION.  Full Article

Tailored Brands Expects To Record Material Non-Cash Impairment Charges
Thursday, 27 Aug 2020 

Aug 26 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS INC - EXPECTS TO RECORD MATERIAL NON-CASH IMPAIRMENT CHARGES RELATED TO COMPANY'S LONG-LIVED ASSETS.TAILORED BRANDS INC - EXPECTS IMPAIRMENT CHARGES FOR QUARTER ENDED AUG. 1 TO BE IN RANGE OF $30 MILLION TO $40 MILLION.  Full Article

Tailored Brands- Was Notified That NYSE Regulation Had Determined To Commence Proceedings To Delist Co's Common Stock From NYSE
Tuesday, 4 Aug 2020 

Aug 4 (Reuters) - Tailored Brands Inc TLRD.N::TAILORED BRANDS - ON AUGUST 2, WAS NOTIFIED THAT NYSE REGULATION HAD DETERMINED TO COMMENCE PROCEEDINGS TO DELIST CO'S COMMON STOCK FROM NYSE.  Full Article

Tailored Brands Says Receives Court Approval Of First Day Motions To Support Ongoing Operations
Tuesday, 4 Aug 2020 

Aug 3 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS RECEIVES COURT APPROVAL OF FIRST DAY MOTIONS TO SUPPORT ONGOING OPERATIONS.COURT GRANTED INTERIM APPROVAL OF CO'S MOTION TO ACCESS $500 MILLION DEBTOR-IN-POSSESSION FINANCING.  Full Article

Tailored Brands Inc - Likely That Co Will Pursue A Reorganization Under Applicable Bankruptcy Laws, Possibly As Soon As During Q3 2020
Tuesday, 28 Jul 2020 

July 27 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS INC - LIKELY THAT CO WILL PURSUE A REORGANIZATION UNDER APPLICABLE BANKRUPTCY LAWS, POSSIBLY AS SOON AS DURING Q3 2020.  Full Article

Tailored Brands Says Expects Corporate Workforce Reduction Of About 20% Of Its Corporate Positions By End Of Fiscal Q2
Tuesday, 21 Jul 2020 

July 21 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS INC - EXPECTS CORPORATE WORKFORCE REDUCTION OF APPROXIMATELY 20% OF ITS CORPORATE POSITIONS BY END OF FISCAL Q2.TAILORED BRANDS INC - UP TO 500 STORES IDENTIFIED FOR POTENTIAL CLOSURE OVER TIME.TAILORED BRANDS INC - CFO JACK CALANDRA TO DEPART TAILORED BRANDS AND HOLLY ETLIN APPOINTED AS CHIEF RESTRUCTURING OFFICER.TAILORED BRANDS - EXPECTS TO RECORD PRE-TAX CHARGE OF ABOUT $6 MILLION IN Q2 FOR SEVERANCE PAYMENTS & OTHER TERMINATION COSTS.TAILORED BRANDS INC - JACK CALANDRA, CFO OF CO, WILL LEAVE TAILORED BRANDS AS OF JULY 31.TAILORED BRANDS INC - IN NEAR TERM, CALANDRA'S RESPONSIBILITIES WILL BE DIVIDED BETWEEN LATHI AND HOLLY ETLIN.TAILORED BRANDS - HAS RE-EVALUATED FORECASTED PROFITABILITY & STRATEGIC VALUE OF STORES RELATIVE TO CURRENT & ANTICIPATED TRENDS IN CONSUMER DEMAND.TAILORED BRANDS INC - HAS NOT YET QUANTIFIED EXPENSE SAVINGS AND COSTS RELATED TO POTENTIAL STORE CLOSURES AND CORRESPONDING STORE ORGANIZATION.  Full Article

Tailored Brands Says Unit Elected Not To Make Interest Payment Due
Thursday, 2 Jul 2020 

July 1 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS - UNIT ELECTED NOT TO MAKE INTEREST PAYMENT DUE, PAYABLE ON JULY 1 OF ABOUT $6.1 MILLION WITH RESPECT TO ITS 7.00% SENIOR NOTES DUE 2022.TAILORED BRANDS - UNIT HAS 30-DAY GRACE PERIOD TO MAKE INTEREST PAYMENT BEFORE SUCH NON-PAYMENT CONSTITUTES "EVENT OF DEFAULT".TAILORED BRANDS INC - HAS ELECTED TO ENTER INTO 30-DAY GRACE PERIOD WITH RESPECT TO INTEREST PAYMENT.TAILORED BRANDS - ON JULY 1, CO MADE ITS SCHEDULED INTEREST PAYMENTS REQUIRED UNDER CREDIT FACILITIES.  Full Article

Tailored Brands Says Will Delay Filing Of Quarterly Report & Expects To File Quarterly Report No Later Than July 27, 2020
Thursday, 11 Jun 2020 

June 10 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS - WILL DELAY FILING OF QUARTERLY REPORT & EXPECTS TO FILE QUARTERLY REPORT NO LATER THAN JULY 27, 2020.TAILORED BRANDS INC - IS REVIEWING LONG-LIVED ASSETS FOR IMPAIRMENT.TAILORED BRANDS - EXPECTS TO INCUR MATERIAL IMPAIRMENT CHARGES FOR GOODWILL, INTANGIBLE & LONG-LIVED ASSETS DURING QTRLY PERIOD ENDED MAY 2.TAILORED BRANDS - IF PANDEMIC EFFECTS ARE PROTRACTED, IF CO CANNOT RAISE LIQUIDITY/ADDRESS DEBT POSITION, CO MAY BE FORCED TO SCALE BACK OPERATIONS.TAILORED BRANDS- IF PANDEMIC EFFECTS ARE PROTRACTED, IF CO CANNOT RAISE LIQUIDITY/ADDRESS DEBT POSITION, CO MAY ALSO BE FORCED TO TERMINATE OPERATIONS.TAILORED BRANDS - IF CO CANNOT INCREASE LIQUIDITY/ADDRESS DEBT POSITION, CO MAY ALSO BE FORCED TO SEEK PROTECTION UNDER APPLICABLE BANKRUPTCY LAWS.  Full Article

Tailored Brands Says Q1 Sales $286.7 Mln
Thursday, 11 Jun 2020 

June 10 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS, INC. PROVIDES BUSINESS UPDATE; REPORTS SELECT PRELIMINARY FIRST QUARTER FISCAL 2020 FINANCIAL METRICS.Q1 SALES $286.7 MILLION.TAILORED BRANDS - CASH & CASH EQUIVALENTS AS OF JUNE 5(TH) OF $201.3 MILLION, EXCLUDING $93.5 MILLION OF RESTRICTED CASH.TAILORED BRANDS - AS OF JUNE 5(TH), 634 STORES, OR 44% OF FLEET, OPEN ACROSS U.S. AND CANADA.TAILORED BRANDS - Q1 NET SALES DOWN 60.4% DUE TO COVID-19 PANDEMIC, WITH FEB COMP SALES UP 2.4% BEFORE PANDEMIC UNFAVORABLY IMPACTED BUSINESS.TAILORED BRANDS - REQUESTED A 45-DAY EXTENSION TO FILE FORM 10-Q FOR Q1 OF FISCAL 2020.TAILORED BRANDS - TOTAL RETAIL COMPARABLE SALES UP 2.4% AND ALL BRANDS POSITIVE IN FEBRUARY.TAILORED BRANDS - TOTAL Q1 E-COMMERCE SALES, INCLUDING RENTAL SERVICES, WERE DOWN 31.9% VERSUS Q1 OF LAST YEAR.TAILORED BRANDS - FOR Q2-TO-DATE THROUGH JUNE 5TH, TOTAL E-COMMERCE SALES, INCLUDING RENTAL SERVICES, ARE DOWN ABOUT 32%.TAILORED BRANDS - IN Q2 FISCAL 2020, SOLD 1 DISTRIBUTION CENTER & 1 OWNED STORE FOR TOTAL NET PROCEEDS OF $13.4 MILLION.TAILORED BRANDS - FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK, MEN'S WEARHOUSE AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 65%.FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK JOS. A. BANK AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 78%.TAILORED BRANDS - FOR WEEK ENDED JUNE 5TH, FOR STORES OPEN AT LEAST 1 WEEK K&G AVERAGE COMPARABLE SALES PERFORMANCE DOWN ABOUT 40%.  Full Article

Tailored Brands Provides Third COVID-19 Update
Thursday, 26 Mar 2020 

March 26 (Reuters) - Tailored Brands Inc ::TAILORED BRANDS PROVIDES THIRD COVID-19 UPDATE.TAILORED BRANDS INC - COMPANY WILL EXTEND TEMPORARY CLOSURE OF ITS RETAIL STORES UNTIL AT LEAST MAY 4, 2020..TAILORED BRANDS INC - WOULD IMPLEMENT ADDITIONAL COST REDUCTIONS.TAILORED BRANDS INC - FURLOUGHING ALL U.S. STORE EMPLOYEES AS WELL AS A SIGNIFICANT PORTION OF EMPLOYEES IN ITS DISTRIBUTION NETWORK AND OFFICES.TAILORED BRANDS - TO IMPLEMENT TIERED PAY CUTS FOR CEO, EXECUTIVE VPS, SENIOR VPS, FOR THOSE WHO WILL BE WORKING FULL TIME DURING PERIOD.TAILORED BRANDS INC - DINESH LATHI AND BOARD WILL BE TAKING A 50 PERCENT PAY REDUCTION DURING PERIOD.TAILORED BRANDS INC - IS REVIEWING IF IT CAN RESTART E-COMMERCE FULFILLMENT OPERATIONS IN A WAY THAT PROTECTS EMPLOYEE HEALTH AND IS CASH FLOW POSITIVE.TAILORED BRANDS INC - CUSTOMERS MAY CONTINUE TO PLACE ORDERS ONLINE TO BE SHIPPED AS SOON AS FULFILLMENT CENTERS REOPEN.  Full Article

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Tailored Brands files for bankruptcy as pandemic hammers sales

Men's Wearhouse owner Tailored Brands filed for bankruptcy on Sunday, adding to a list of brick-and-mortar retailers that have succumbed to the economic fallout from the COVID-19 crisis.