Tailored Brands Inc., parent to Men’s Wearhouse and Jos. A. Bank, said in a filing with the Securities and Exchange Commission late Monday: “We have determined that there is substantial doubt about our ability to continue as a going concern. Although we are evaluating several alternatives, it is likely that we will pursue a reorganization under applicable bankruptcy laws, possibly as soon as during the third quarter of fiscal 2020, which begins on Aug. 2, 2020,” WWD reported. The writing has been on the wall for a while. Not only did Tailored Brands find itself selling men’s formal wear just as the world became more casual, the trend moved forward at light speed when the coronavirus sent people home to work, causing ath-leisure looks to gain even more. Tailored Brands Inc. missed a $6.1 million interest payment on July 1, starting a 30-day grace period, which runs out this week. Missing the interest payments will cause a cascade effect with the firm’s debts, which total about $2 billion. The retailer is working with advisers and evaluating alternatives, including a private restructuring. For the quarter ended May 2, Tailored said it lost $269.9 million as sales fell 60 percent to $286.7 million.
