Find in the news:
BY COUNTRY

The rejection of businesswear has put fashion brands on the verge of bankruptcy



The sharp decline in consumer interest in office clothes has caused difficulties for a number of brands.
Brooks Brothers businesswear

Thus, Tailored Brands, a company that owns brands such as Men's Wearhouse and Jos. A. Bank, is considering filing for bankruptcy. This would allow it to continue its operations by restructuring and removing some of its weaknesses.

The reason for the potential bankruptcy lies in a significant decrease in consumer interest in business suits - office workers who wear suits began working from home and events such as weddings have been postponed. However, sales of this type of clothing began to fall even before the pandemic, which led to the emergence of almost a billion dollars in debt to Tailored Brands.

A representative for Tailored Brands refused to talk to journalists, saying that "in accordance with the company's policy, it will not comment on market rumors or speculation."

Other retailers, whose range of products also included office clothes, were also affected. For example, sales of suits and dresses under the Banana Republic brand owned by Gap Inc. In this case, the situation was aggravated by the fact that by filling the warehouses with business clothes, the retailer could not provide sufficient stocks of everyday items. This led to a 47% reduction in online sales for Banana Republic.

Not in the best situation was the company Brooks Brothers, which is now actively closing stores and is closing three factories at once, leading to the dismissal of 700 employees. Talks about possible bankruptcy are already open. It should be noted that this brand, like the ones above, began to experience difficulties even before the pandemic, which only exacerbated its problems.

More about shopping malls in the USA



DAY BEFORE YESTERDAY, USA:
Louis Vuitton opens dog-friendly 'Dog LVERS' pop-up in NYC's Soho.
Oct 31, 2024, USA:
Designed to capture Atlanta’s artistic spirit and Southern landscape.
Oct 30, 2024:
Two years after controversial split, Adidas and Ye reach mutual conclusion.
Oct 29, 2024, USA:
Expanding footprint in North America with two new locations.
Oct 28, 2024, India:
Foot Locker has launched its first store in India, setting up shop in the Nexus Select City Walk mall in New Delhi.
Oct 25, 2024, China:
Modern design inspired by Shenzhen’s spirit.
Friend
and Follow
K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
Forum Istanbul GLA:1 883 684 SF
ADDRESS: Kocatepe Mahallesi, Pasa Caddesi 34045 Bayrampasa
Turkey . Istanbul
Forum Istanbul
Queens Place GLA:440 000 SF
ADDRESS: 88-01 Queens Boulevard Elmhurst, NY 11373
USA . New York
Queens Place
Westfield Santa Anita ADDRESS: 400 S. Baldwin Ave. Arcadia, CA 91007
USA . Arcadia
Westfield Santa Anita


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us