Tailored Brands filed for Chapter 11 bankruptcy protection on Sunday.
Tailored Brands, the parent company for popular suit and tux retailers Men’s Wearhouse and Jos. A. Bank, filed for Chapter 11 bankruptcy protection yesterday, according to a story from Columbus Weddings’ sister publication USA Today. This comes after an announcement last month that the company would be closing up to 500 of its 1,200-plus U.S. stores between the two brands.
Men’s Wearhouse and Jos. A. Bank aren’t the only big-name chains facing financial struggles amid the economic fallout of the coronavirus pandemic. USA Today reports that Signet Jewelers, which owns Kay Jewelers, Zales and Jared The Galleria of Jewelry, announced in June that it wouldn’t reopen 150 stores closed during the pandemic and plans to close an additional 150 stores by the end of February 2021. Signet Jewelers operates nearly 3,200 stores worldwide under those three brand names, as well as Piercing Pagoda, and is the largest retailer of diamond jewelry in the world.
Neither company has released a list of which stores will be closing. Central Ohio is currently home to four Men’s Wearhouse stores, four Jos. A. Bank stores, eight Kay Jewelers, two Kay Jewelers Outlets, three Zales and three Jared stores.