New York City and Freemont, Calif. — The list of apparel retailers to file for Chapter 11 bankruptcy grew longer over the weekend as the parent companies of Lord & Taylor and Men’s Wearhouse both filed petitions for Chapter 11 bankruptcy protection in an effort to restructure their debt loads. Le Tote Inc., a New York City-based e-commerce firm specializing in the clothing sector that owns Lord & Taylor, filed its petition in the U.S. Bankruptcy Court for the Eastern District of Virginia. Tailored Brands, the Fremont-based parent company of …
tailored brands
Fremont, Calif. — Tailored Brands, the parent company of professional menswear retailers Men’s Wearhouse and Jos. A. Bank, has announced a corporate restructuring that entails closing up to 500 stores. The Fremont, Calif.-based firm says the “unprecedented and industry-wide” disruption caused by the COVID-19 outbreak was the catalyst behind the move. Tailored Brands has identified the 500 stores but did not disclose the retailers, locations or timing of those closures. Other brands in Tailored’s umbrella include K&G and Moores Clothing for Men. The company had 1,445 U.S. stores as of …
Fremont, Calif. — Tailored Brands, Inc. has appointed Dinesh Lathi as president and chief executive officer, and Theo Killion has been appointed chairman of the board of directors. Lathi has served as chairman of Tailored Brands since March 2017, executive chairman since August 2018, and has been a member of the Tailored Brands board since March 2016. Killion has served as lead independent director since August 2018 and joined the company’s board in June 2017. “Following a robust and thorough search process, the board is pleased to appoint Dinesh as …
Columbus, Ohio — Bruce K. Thorn, a well-respected retail industry executive, has been named chief executive officer and president of Big Lots, Inc. Most recently, he was the president and chief operating officer of Tailored Brands, Inc., a leading specialty retailer of men’s tailored clothing and men’s formalwear. Tailored Brands announced Thorn’s resignation on August 27, 2018.