Tailored Brands Inc., the owner of Men’s Wearhouse and Jos. A. Bank, is considering a potential bankruptcy after the coronavirus lockdown kept America’s office workers at home, putting a damper on demand for new suits, Bloomberg News reported. The retailer and its advisers have started reaching out to interested parties about reworking its debts of more than $1 billion. Plans are in the early stages and could change, with Tailored Brands still seeking alternative forms of financing, according to sources. The restructuring plans could depend on market conditions and the outlook for stores to re-open. Sales have suffered because government officials were telling shoppers to stay home and nonessential businesses to stay shut to combat the Covid-19 pandemic. Tailored Brands was struggling even before the outbreak. Sales have fallen every year since 2016 as Men’s Wearhouse and Jos. A. Bank contended with changing consumer tastes and ecommerce rivals.
