Aug. 3, 2020

The parent company of Men’s Wearhouse and other menswear stores has filed for bankruptcy.

Texas-based Tailored Brands is seeking Chapter 11 protection to continue operations while it restructures the company, including the closure of up to 500 stores.

In addition to Men’s Wearhouse, which has a location in Sioux Falls near The Empire Mall, Tailored Brands includes Jos A. Bank, Moores Clothing for Men and K&G Fashion Superstore. It has 1,400 stores in the U.S. and Canada.

“Our brands have served their communities for decades and built deeply loyal relationships with customers. We remain confident that these relationships and our enduring commitment to help customers look and feel their best will allow us to overcome the challenges of COVID-19,” president and CEO Dinesh Lathi said. “Today, we are taking the next steps to become a financially stronger and more nimble company that is poised to thrive in our ever-evolving business environment.”

Tailored Brands has an agreement with lenders that will allow it to reduce its debt by $630 million and access $500 million in financing.

Lord & Taylor, which is billed as the oldest department store chain in the U.S., also filed for bankruptcy Sunday.

Other retailers with Sioux Falls locations that have filed for bankruptcy this year include J.C. Penney, Pier 1 Imports, Hertz, the parent companies of Gordmans and Chuck E. Cheese, Pizza Hut franchisee NPC International and Ascena Retail Group, which includes Ann Taylor, Loft, Lane Bryant, Justice, Catherines and other brands.

Sioux Falls Justice, Loft, Lane Bryant stores escape initial closure list