Tailored Brands Left Bankruptcy And Quickly Unravelled. What’s Next?
Apr 09, 2021
George Zimmer opened the first Men’s Wearhouse with $7,000 of his own money and $30,000 borrowed from his father, a raincoat manufacturer. From there Zimmer worked to build a company based on a solid corporate reputation, donating a portion of pre-tax profits, keeping vendors in good stead and pegging marketing to Zimmer’s famous word of guarantee. The company Zimmer started and left years ago, which ultimately became Tailored Brands, is still borrowing money, and in much larger amounts, now just to stay alive as the pandemic continues to depress spending on apparel. Read more at Retail Dive.
Every sale at MW or JAB directs money to differently than local does. Just liquidate and be done with it.