HORSEHEADS, N.Y. (WETM/AP) – The Jos. A Bank location in Horseheads has been removed from the company’s directory after their parent company Tailored Brands filed for Chapter 11 bankruptcy Sunday in the Southern District of Texas on Sunday.
The Shops at Chambers location next to David’s Bridal was the only Jos. A Bank shop in the Twin Tiers, with the next closest being in two hours away in Fayetteville, New York.
The Men’s Wearhouse in Horseheads, which is also owned by Tailored Brands, remains on its company directory.
18 News reached out to Tailored Brands on Tuesday morning, but they were unable to speak about specific locations impacted by the bankruptcy filing.
Men’s Wearhouse and Jos. A. Bank stores, along with K&G Fashion Superstore and Moores Clothing for Men, all owned by Tailored, with continue to operate during restructuring. The company expects to reduce it’s funded debt by at least $630 million.
Household stores, many longtime anchors in malls nationwide, were already struggling to keep up with a radical reformation in what people buy, and where they buy it. Much of that activity has moved online.
Thousands of store closures forced by the arrival of COVID-19 has proved too much.
Last month, Brooks Brothers, the 200-year-old company that dressed nearly every U.S. president, filed for bankruptcy protection. Its rival, Barneys New York, is being dismantled after filing for bankruptcy last year.
Dozens of retailers, big and small, have filed for Chapter 11 protection this year. The pace through the first half of 2020 far exceeds the number of retail bankruptcies for all of last year. About two dozen stores have sought bankruptcy protection since the pandemic started.
Others include J. Crew, J.C. Penney, Neiman Marcus, Stage Stores, and Ascena Retail Group, which owns Lane Bryant in addition to Ann Taylor.