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Menswear Giant Tailored Brands Eyes Public Return Post-Bankruptcy
22 Apr
Summary
- Tailored Brands filed confidentially for an IPO, aiming for a public market return.
- The company emerged from Chapter 11 bankruptcy in late 2020, reducing debt.
- New management appointments signal readiness for the upcoming initial public offering.
Tailored Brands Inc. has taken a significant step towards re-entering public markets by confidentially filing for an initial public offering. The holding company, which includes well-known brands like Men's Wearhouse and Jos A. Bank, submitted a draft registration statement to the U.S. Securities and Exchange Commission. This filing initiates a regulatory review period expected to last at least two to three months.
Previously, Tailored Brands sought Chapter 11 bankruptcy protection in August 2020, a consequence of pandemic-related lockdowns impacting demand for business attire. By December 2020, the company had successfully emerged from bankruptcy, having eliminated $686 million in debt. Silver Point Capital, a credit-focused hedge fund, now controls the company.
Ahead of its planned IPO, Tailored Brands has revamped its executive team. In November, Mike Baughn, formerly CFO of Footlocker Inc., was appointed as the new CFO. Additionally, Karla Gray, an ex-Nike Inc. executive, was promoted to Chief Operating Officer, indicating a strategic push for operational strength.
