Tailored Brands Looks To Exit Bankruptcy Later This Month

Tailored Brands won court approval for its plan to reorganize in Chapter 11 bankruptcy after filing in August, the company said in a press release. A judge’s sign-off puts the retailer in the final stages of the process. Tailored Brands said it expects to exit bankruptcy by the end of November. Under the plan, Tailored Brands would shed $686 million in debt and turn ownership over to lenders and other creditors, after decades of being a publicly traded company. Read more at Retail Dive.