Written by The Business Journal Staff
Tailored Brands, Inc., the parent company of Men’s Wearhouse and Jos. A. Bank, announced plans to close about 250 of its stores during the current fiscal year.
The men’s clothing retailer hasn’t announced which stores are set to close, though it plans to close 80 to 90 Jos. A. Bank stores with the remainder of the closures coming to outlet and MW Tux rental locations, according to its most recent earnings report.
Fresno’s Vilaggio Shopping Center has a Jos. A. Bank location, while Fresno and Visalia each have a Men’s Warehouse location.
The company also has a plan to reduce expenses by about $50 million this year that includes reduced distribution costs, cost reductions in its organization structure as well as reduced payroll and employee benefits.