SAN FRANCISCO (KRON) – Tailored Brands, the owner of Men’s Wearhouse and Jos. A. Banks, announced store closures and layoffs Tuesday amid the ongoing coronavirus pandemic.
Tailored Brands announced it would close up to 500 stores “over time” and cut about 20% of its workforce by the end of its fiscal second quarter, USA Today reports.
A list of which locations would be closed was not disclosed.
In addition to permanent store closings, Tailored Brands said it would also “reduce and realign its store organization and supply chain infrastructure and organization to best serve its go-forward store footprint and e-commerce business.”
According to a public filing, Tailored Brands employs more than 19,0900 employees across 1,450 stores as of Feb. 1.
Other retailers that have been hit hard by the pandemic and have also filed for bankruptcy include Brookes Brothers, J.C. Penney, Neiman Marcus, and J.Crew.
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