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Tailored Brands plans to rejoin the public stock market, five years or so after emerging from bankruptcy as a private company.
The apparel conglomerate, which runs Men’s Wearhouse, Jos. A. Bank, Moores and K&G Fashion Superstore, on Tuesday said it “has confidentially submitted a draft registration statement on Form S-1 with the Securities and Exchange Commission.”
The move is preliminary, as neither the number of shares nor their price has been determined, and the SEC has yet to review the proposal, the company said by press release.
In 2020, Tailored Brands — buffeted by trends in menswear that had consumers buying fewer suits and ties, then hit hard by the pandemic — struggled to maintain its stock price at minimum requirements. Its bankruptcy that year wasn’t much of a reprieve, as the company almost immediately ran into liquidity issues. The retailer had shuttered hundreds of stores, and its post-bankruptcy turnaround was an uphill climb.
Tailored Brands has shaken up its leadership a number of times in these years. Last year former J.C. Penney chief merchant John Tighe took over as CEO; a few months later the company promoted Karla Gray to chief operating officer and tapped former Foot Locker Chief Financial Officer Mike Baughn to be CFO.
