PATRICK MON PERE’S LETTER TO THE MENSWEAR INDUSTRY
Dear Friends and Colleagues,
As many of you already know, Patrick James filed for Chapter 11, code subchapter V, on October 9th due to the effects of the pandemic and to a lesser degree the fires that have plagued California. It was an incredibly difficult decision to make, and we explored every option available to us, but in the end, we simply ran out of runway. We closed our Palo Alto location of over 40 years in September and we will have to close a few more of the 11 remaining stores through this Holiday period as we restructure for the future. This has weighed heavily on us as many of the people working for us have been with us for well over 30 years.
I sincerely apologize to all of our vendors and friends who are affected by this filing. Once the decision was made, I was quite anxious to begin reaching out to vendors, not knowing what to expect but fearing the worst. With a couple of exceptions, I have been absolutely humbled by the response of so many of our long-time vendors. Instead of worrying about their immediate losses, many instead asked “How can we help?” I feel this speaks volumes about the quality of the people and relationships that make up our industry as well as their understanding of the unique circumstances that led to our decision.
Our current lender is supporting us through the filing and will be acting as our DIP financier as well. We have a great deal of work ahead of us over the next few months, but we look forward to emerging from our Chapter 11 as a much healthier company that will allow us to support our vendors and serve our clients for many years to come.
Sincerely,
Patrick Mon Pere, president and CEO of Patrick James
I’m so sorry, Patrick. This is not your doing. Accepting that fact will allow you to focus on saving your business (which will require unimaginable energy and strength).
Your vendors and your bank will work with you because of the trust you have built through the years.
The tone and candor in your letter supports that.
You will be surprised how much you will learn from this unfortunate experience. You will be better because of it.
My best suggestion for someone in your position is to do exactly as you did.
Be transparent. Provide the bad news to constituents before they discover it on their own.
Good luck and God bless.
Patrick sorry to hear this it is a difficult Time for us all hopefully we can all somehow get threw this crazy times they say Clothes Make The Man but we all as artists pic out choose and design the outfits they wear to look and feel good it is a art I feel like most is a dying art let’s keep it going for the future good luck stay safe
I am sad to hear the news. Although Patrick James is a competitor, I feel the pain for all retailers, specially in California. This pandemic has brought unanticipated business conditions which none of us have been prepared for. Searching for a better vision of light at the end of tunnel, let’s brace for a more promising future.
It saddens me to see well-respected companies being forced to take drastic steps due to the Coronavirus and California’s fires.
I have been out of the industry for a few years, but called on Patrick James in the 70’s and the 80’s. Patrick and Paul were always gentlemen, and deserve respect and understanding from their business partners
Pat Mon Pere; Gentleman
I wish you all of the best, for you and your company are the best. You WILL emerge from this, successful and remain a beacon for all of us in the Menswear industry. I am humbled by your candor, and as a fellow retailer I know that you will be fine in the long haul. All My best to you , your executives and your staff. As a born and raised Californian, most do not know of the resilience of the Californian.
You sound like a real gentleman. I have been through an 11 ,many years ago working for a local menswear chain.
It’s difficult but it does work out. The very best of luck.
Bravo Patrick! You just might be the first person here, who has actually empathized with the vendors in a such an honest, caring, and humble way while discussing bankruptcy/reorganization. I applaud your clearly heartfelt belief in teamwork, partnership, and friendship with vendors… as opposed to the other 95% who file, reorganize, get re-funded and leave the vendors clutching their unpaid invoices without so much as a second thought. The industry, actually the world, needs more people like you. Soldier on. Karma is a boomerang.
Do it with Class
Wish your team and families the best for the tomorrows.
God Blessings