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Tailored Brands Announces New Chief Technology Officer
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Tailored Brands hires former Kohl s exec as CTO
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Michael Strahan Wants You to Sneak In That Midday Workout in His New MSX Collection
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UPDATE: April 5, 2021: A federal bankruptcy judge approved a financing deal that injected $75 million of emergency capital into Tailored Brands and provides $3 million-plus to buy out a minority stake in the company held by unsecured creditors who received shares in the retailer s Chapter 11 reorganization.
After attorneys for the minority shareholder group suggested the deal may have been designed to push them out, Judge Marvin Isgur said that there was zero evidence of that, according to audio of a hearing on Thursday.
Dive Brief:
Minority shareholders of Tailored Brands are getting a chance to investigate an emergency loan deal that some say would massively shortchange them.
Dive Brief:
Tailored Brands CEO and President Dinesh Lathi is stepping down from his post, effective March 26, the menswear retailer said in a press release.
After Tailored Brands exit from bankruptcy in December and the recent securing of new emergency financing, Lathi and the board mutually agreed that this is the right time to re-evaluate the skills and experiences needed in the CEO role as the Company prepares for its next chapter of growth and success, the retailer said.
Tailored Brands board members Bob Hull and Peter Sachse are set to serve as interim co-CEOs while the board searches for a permanent chief.