Tailored Brands has worked diligently to strengthen our balance sheet through a series of cost-saving and strategic initiatives. Ultimately, it was necessary to take additional action to address financial challenges resulting from the coronavirus pandemic.
We expect that our equity holders could experience a significant loss in their investment. This could be a complete loss, depending on the outcome of the Chapter 11 case.
The rights and recoveries for all parties in the case will be dictated by the Chapter 11 process and the resulting Plan of Reorganization. Any questions you have about your investment in Tailored Brands would be best directed toward your own financial advisor or legal counsel. We cannot provide advice on this matter.
1. Will Tailored Brands’ stock continue to trade following the filing?
Following our Chapter 11 filing, NYSE has indicated that our stock will be delisted from the exchange. We expect that our stock will continue to trade over-the-counter until the restructuring is complete.
2. I own Tailored Brands shares. What will happen to them? Can I sell them? Should I?
Our restructuring support agreement (“RSA”) currently provides for 100% of the equity in the business to go to our term loan lenders. Accordingly, we expect any existing equity will be cancelled if our Plan of Reorganization is implemented, following the creditor vote and approval by the Bankruptcy Court.
We cannot provide a recommendation on what to do with your shares in the interim. Any questions you have on your shares should be directed to your own financial advisor or legal counsel.
3. Where can I stay up to date on Tailored Brands’ Chapter 11 case?
Investors should contact [email protected] .