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Men's Wearhouse sets up new holding company
02
Feb '16
Effective January 31, 2016, Men's Wearhouse announced a new holding company, Tailored Brands, Inc., a Texas corporation.

As a result of which, Men's Wearhouse shareholders will become shareholders of the new Texas holding company on a one-for-one basis,” a press release stated.

“Shareholders will hold the same number of shares and same ownership percentage in Tailored Brands as they held in Men's Wearhouse immediately prior to implementation,” the retailer added.

Tailored Brands will replace Men's Wearhouse as the publicly held corporation, and beginning on February 1, 2016, the shares of Tailored Brands, Inc. will trade on the NYSE.
.
CEO Doug Ewert said, "We believe the holding company structure will allow us to support, nurture and augment our family of brands as we further leverage our shared services platform."

The Men's Wearhouse, Inc. is the largest specialty retailer of men's suits and the largest provider of rental products in the US and Canada with 1,748 stores including tuxedo shops within Macy's stores.

The Men's Wearhouse, Jos. A. Bank, K&G and Moores stores carry a full selection of suits, sport coats, furnishings and accessories in exclusive and non-exclusive merchandise brands.

Additionally, Men's Wearhouse operates a global corporate apparel and workwear group consisting of Twin Hill in the United States and Dimensions, Alexandra and Yaffy in the United Kingdom. (AR)

Fibre2Fashion News Desk – India


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