CT Men's Wearhouse, Jos. A. Bank Stores Facing Potential Closures

ACROSS CONNECTICUT — Connecticut Men's Wearhouse and Jos. A. Bank haberdashery stores could be in peril after an ominous announcement by its parent company about the stores have hit taken from coronavirus-related closures.

Fremont, California-based Tailored Brands Inc. said Tuesday that it has "identified 500 stores for potential closure in the coming years as a result of lost revenue during the coronavirus pandemic." The announcement cited "unprecedented and industrywide business disruptions" that have spurred "a series of operating and organizational changes."

Tailored Brands said it will be eliminating about 20 percent of its corporate positions by the end of the fiscal second quarter.

In addition to the up to 500 retail stores outlined for potential closure, the company will explore "associated opportunities to reduce and realign its store organization and supply chain infrastructure and organization to best serve its go-forward store footprint and e-commerce business."

In the announcement, Tailored Brands did not identify what locations have been targeted for closure.

Men's Warehouse has 11 locations in Connecticut:

• South Windsor
• Enfield
• West Hartford
• Simsbury
• Danbury
• Stamford
• Westport
• Milford
• Hamden
• Meriden
• Waterford

In-state Jos. A. Bank locations include:

• Greenwich
• Danbury
• Fairfield
• Southbury
• Waterford
• Milford
• Glastonbury
• West Hartford
• Canton

Tailored Brands President and CEO Dinesh Lathi said, "We have safely reopened almost all of our retail stores and look forward to helping our customers look and feel their best for their moments that matter. Unfortunately, due to the COVID-19 pandemic and its significant impact on our business, further actions are needed to help us strengthen our financial position so we can navigate our current realities.

"It is always difficult to eliminate jobs and say farewell to our friends and colleagues. I want to thank our teammates affected by these changes as well as those who continue to help us meet the challenges currently facing our industry and who remain dedicated to serving our customers. While today’s announcement is a difficult one, we are confident these are the right next steps to protect our business and position us to more effectively compete in today’s environment."

In connection with the "corporate personnel changes," Tailored Brands expects to record a pre-tax charge of approximately $6 million in the second quarter of fiscal 2020 for severance payments and other termination costs, all of which are "cash costs."

Tailored Brands also owns Moores Clothing for Men and K&G.