Parent company of Men’s Wearhouse, Jos. A. Bank files for bankruptcy

[Gregzs]

Tailored Brands, the parent company of Men’s Wearhouse, Jos. A. Bank and other men’s fashion brands, announced Sunday it has filed for Chapter 11 bankruptcy.

The company hopes the bankruptcy filing will help alleviate its $630 million debt.

It was also announced in July that up to 500 stores have been identified that could potentially close “over time.”

Tailored Brands said the coronavirus pandemic has caused it to implement “a series of operating and organizational changes.”

A list of potentially affected stores has not yet been released.

The company also operates K&G Fashion Superstore and Moores Clothing for Men.

In New Jersey, there are currently 13 Men’s Wearhouse, 12 Jos. A. Bank and five K&G Fashion Superstores. There are no Moores Clothing for Men stores in the U.S., since it’s based in Canada.

Although not marketed as a liquidation sale, Men’s Wearhouse is offering up to 70% off on clearance items, while Jos. A. Bank is holding a “Super Tuesday” sale. K&G Fashion Superstore is also having a summer clearance sale where you can find items for up 75% off.

It has been a rough few months for the brick-and-mortar retail industry, which already had been struggling.

JCPenney, Brooks Brothers, New York & Company, Sur La Table, Pier 1 Imports and Lucky Brand have all filed for bankruptcy during the coronavirus pandemic.

https://www.nj.com/business/2020/08/parent-company-of-mens-wearhouse-jos-a-bank-files-for-bankruptcy.html?utm_campaign=njcom_sf&utm_content=nj_facebook_njcom&utm_medium=social&utm_source=facebook&fbclid=IwAR2uheO6HNRrvkLGsRB8KhbUadTRJJZHnpz-WHYIKIt_oXRiq_NlFR6pGUg

[Irongrip400]

I have a buddy in the clothing business and he said he’s taken a beating since January. Said some of his lawyer clients with courts being closed and offices closed are not buying shit since everything is via Skype right now.

[Kwon]

I have a buddy in the clothing business and he said he’s taken a beating since January. Said some of his lawyer clients with courts being closed and offices closed are not buying shit since everything is via Skype right now.

Internet is both a blessing and a curse.



Soon Skynet will push away real money as well with stores not taking cash anymore.

[SOMEPARTS]

I have a buddy in the clothing business and he said he’s taken a beating since January. Said some of his lawyer clients with courts being closed and offices closed are not buying shit since everything is via Skype right now.

Gayer than having a buddy in the clothing business. 

[Marty Champions]

"boyfriend' in the clothing buisness

[IroNat]

The trend to casual office attire killed them.

[Humble Narcissist]

The trend to casual office attire killed them.

Giving away suits for next to nothing didn't help either.

[Matt]

I have been surprised at how few big businesses have went bankrupt - but maybe I just haven't heard of them.

[Humble Narcissist]

I have been surprised at how few big businesses have went bankrupt - but maybe I just haven't heard of them.

Everyday they announce a new one going bankrupt.

[oldtimer1]

Guys dress like shit today. Selling suits is a tough business.  Hot women want to wear dresses and heels while guys want to wear a tee shirt with their disgusting hairy feet in flip flops. Here's a clue for you guys. Even when you dress casual going out with a girl wear real leather dress shoes with your jeans. It classes up your look and get rid of the tee shirt. Find a nice button down shirt. This way the girl will feel like she didn't get dressed up to be with a slob. Better yet. Suit up.

[Matt]

Everyday they announce a new one going bankrupt.

I just want to make sure we have the same definition of "big" here, Humble: but I actually haven't heard of too many other examples aside from the bankruptcy of the Wendy's and Pizza Hut largest franchisee.  If what you are saying is true, I need to go read about some other examples.

Maybe I've been relying on Getbig too much for my news. 

[IroNat]

Guys dress like shit today. Selling suits is a tough business.  Hot women want to wear dresses and heels while guys want to wear a tee shirt with their disgusting hairy feet in flip flops. Here's a clue for you guys. Even when you dress casual going out with a girl wear real leather dress shoes with your jeans. It classes up your look and get rid of the tee shirt. Find a nice button down shirt. This way the girl will feel like she didn't get dressed up to be with a slob. Better yet. Suit up.

Rockford style...

[Mr Anabolic]

Brick and mortar stores died a long time ago.  I'm surprised that malls still exist.

I remember my childhood summers in the 70's... my mom would go to work and drop me off at my grandmothers.   Granny would drag me shopping with her to Strawbridge and Clothiers, John Wanamaker's, Gimble's, Woolworth's, Grants, Bamburgers, Sears, Lit Bros, Clover... ALL gone now.

[Humble Narcissist]

I just want to make sure we have the same definition of "big" here, Humble: but I actually haven't heard of too many other examples aside from the bankruptcy of the Wendy's and Pizza Hut largest franchisee.  If what you are saying is true, I need to go read about some other examples.

Maybe I've been relying on Getbig too much for my news. 

Here they are:

https://www.forbes.com/sites/hanktucker/2020/05/03/coronavirus-bankruptcy-tracker-these-major-companies-are-failing-amid-the-shutdown/#2f1c0933425a

[USMCKoontz]

Not surprised really

[Humble Narcissist]

Rockford style...

Most women today dress like shit as well.

[Gregzs]

Ruby Tuesday files for bankruptcy, shutters 185 restaurants

Casual dining chain Ruby Tuesday has filed for Chapter 11 bankruptcy protection and announced that 185 of its 421 restaurants that temporarily closed this year will stay closed for good.

According to the bankruptcy filing in a Delaware court, the company’s debt is between $100 million and $500 million.

“Today’s actions will allow us an opportunity to reposition the company for long-term stability as we recover from the unprecedented impact of COVID-19," CEO Shawn Lederman said in a statement earlier this week.

The following seven Ruby Tuesday restaurant locations in New Jersey have closed this year:

Deptford: Deptford Clements Bridge Rd.
Freehold: Freehold Raceway Mall
Hamilton: 500 Marketplace Blvd.
Lakewood: 1875 Route 70.
Mays Landing: 4403 Black Horse Pike
Neptune: 3595 State Route 66.
Phillipsburg: 1278 Route 22
It’s unclear whether any of the seven closures were directly related to the pandemic. According to a report by Business Insider, Ruby Tuesday quietly shuttered 150 restaurants during the first half of the year.

CNN also reported the company had financial problems even before the pandemic hit.

That leaves just five Ruby Tuesday spots left in New Jersey, according to the company’s website. They are located in Eatontown, Elizabeth, Somerset, Toms River and inside Newark Liberty International Airport.

A Ruby Tuesday spokeswoman told NJ Advance Media the company does not anticipate additional closures.

“We plan to use this filing to strengthen our business by reducing liabilities and reposition the company to emerge a stronger organization built for the future,” Lederman, the CEO, said in the statement. “We intend to move through the process as quickly as possible.”

Ruby Tuesday joins a number of other restaurants and chains that have closed locations over the past several months. Among them: Burger King, Smashburger, Zinburger and Cheeseburger in Paradise.

Ruby Tuesday was founded in 1972 in Knoxville, Tennessee.

https://www.nj.com/business/2020/10/ruby-tuesday-files-for-bankruptcy-shutters-185-restaurants.html?utm_content=nj_facebook_njcom&utm_campaign=njcom_sf&utm_source=facebook&utm_medium=social&fbclid=IwAR2xfZXjZ5QFOTp4XqTLi-IMd5miBoNVLQZJtXM5-b3zHJ56E82glxtUNoQ

[IroNat]

I bought a couple suits from Men's Wearhouse in 1981 but that probably won't help them now.

[Humble Narcissist]

I bought a couple suits from Men's Wearhouse in 1981 but that probably won't help them now.

At least you tried to help.

[IroNat]

At least you tried to help.

I saw the future.

[ThisisOverload]

I've bought a few suits from MW.  Only when they had good sales.  There was one down the street from my old condo.  They were expensive, but once or twice a year they had some ridiculous sales.  Buy one get one free dress shirts and slacks, suits up to 75% off.

The newer generations of men, just don't dress up like they used to unless it's required for work.  Until last year i wore a suit almost everyday, but i did a lot of business development and met lots of clients.  Now that i'm managing the design teams in the office, i wear slacks and a button down shirt, no jacket, but i have one in my truck in case i have a meeting.  Most of the people in the office wear jeans and t-shirts everyday.  Just seems weird not to dress nice.  Plus with Covid only ~50% of us are in the office and meetings are rare, a few people i had to talk to about what they were wearing to the office.  Mainly women, coming to the office like they literally rolled out of bed.

Most women do appreciate a man who looks well put together.  Always dress up when going out with a woman, unless you know it's going to be very casual.  My ex used to love to dress up super nice and go to events like plays and walk around town.  She liked the attention.  I don't care for attention, but women can't help but eye fuck a nice dressed guy when he walks in the door.  Plus men who dress nice usually have an understanding of nice things and money, things women care about.

A good client of mine is a large Architecture firm, they entire company is required to dress to the nines every single day.  I think it's pretty cool, they all look so professional.  Not something i would require, but i understand why they require it.