The parent company of Men’s Warehouse and Joseph A. Bank is closing 250 stores.
Fortune writes that Tailored Brands Inc. said it will close 80 to 90 Joseph A. Bank stores, as well as 58 outlet stores, and it will also shut 100 to 110 MW Tux locations. The company is shifting tuxedo rentals business to Men’s Wearhouse stores and partner Macy’s. On June 10, Macy’s (M) announced an agreement with Men’s Wearhouse (MW), a leading specialty retailer of men’s apparel, to open in-store tuxedo rental shop, according to Market Realist.
No Men’s Wearhouse stores will close given the strong performance of that chain.