B6 Y THE NEW YORK TIMES BUSINESSTHURSDAY, OCTOBER 15, 2020
BANKS | COMPANIESHundreds of thousands of small
businesses are closing for good.
Temporary layoffs at larger com-
panies are becoming permanent.
But the country’s largest banks,
which together serve a majority of
Americans through loans, credit
cards or deposit services, are not
raising an alarm.
In their third-quarter earnings
reports this week, big banks have
said they are generally prepared
for a wave of loan defaults they ex-
pect in the second half of next
year. And their own fortunes are
just fine: A trading and invest-
ment banking bonanza on Wall
Street is helping them stay prof-
itable.
A few common themes have
emerged from the reports.
Wall Street Is Booming
The pandemic has made for a tur-
bulent year across a wide range of
markets, but all the trading that
investors have done in response
has kept the revenue rolling into
the banks.
Goldman Sachs reported strong
markets revenue on Tuesday,
helping it generate profits of $3.62
billion — far surpassing analyst
expectations of $2 billion. Trading
of bond products linked to interest
rates, corporate credit, mort-
gages, and the prices of oil and
other commodities lifted the bond
division’s quarterly revenue 49
percent higher from the same pe-
riod last year. In stocks, divisional
gains were 10 percent.
In a call with analysts, Goldman
executives said some of the boom
had come because the firm in-
creased its share of trading activi-
ty on behalf of the market’s 1,000
biggest money managers and
other active traders who give
business to Wall Street.
Goldman’s asset-management
operations benefited from a rally
in stock prices as well. A rise in the
value of its positions in companies
like the online commerce platform
BigCommerce (up more than 40
percent since its shares began
trading in August) and the medi-
cal equipment maker Avantor (up
nearly 30 percent this year)
helped the division generate 71
percent more revenue.
But it was not just Goldman that
benefited. Bank of America’s in-
vestment banking business had
the second-best performance in
its history in the third quarter,
trailing only this year’s second
quarter, according to the bank’s
chief financial officer. At JPMor-
gan Chase, trading revenue rose
21 percent and investment bank-
ing revenue 52 percent from a
year earlier.Customers Are Hanging On
Steeling themselves for wide-
spread defaults by customers un-
able to pay credit-card, home-loan
or other debts because of the pan-
demic, the biggest banks have
sent vast sums of cash into special
pools they will draw from to cover
losses in the future. But in general,
the banks say, their customers are
doing better than they expected.
The reason? Bank officials
pointed to the trillions of dollars
the federal government has dis-
tributed in the form of enhanced
unemployment benefits, forgiv-
able small-business loans andother programs created this
spring by the CARES Act.
“Recent economic data has
been more constructive than we
would have expected earlier this
year,” JPMorgan’s chief financial
officer, Jennifer Piepszak, said on
a call with journalists on Tuesday.
“Over all, consumer customers
are holding up well. They have
built savings relative to pre-Covid
levels and, at the same time, lower
debt balances.”
This quarter, the banks each set
aside less money than in previous
quarters to prepare for losses.
Bank of America and JPMorgan
Chase said their credit-cardcustomers were making their pay-
ments again.
The bank with the most
strained customers seems to be
Wells Fargo, which said it had
spent nearly $1 billion trying to
help customers who were strug-
gling to repay their loans come up
with new payment plans to keep
them from defaulting. Even so, the
bank said, its borrowers are less
likely to fall behind now than they
were earlier this year.More Stimulus? Don’t Bank on It
While government relief pro-
grams have prevented serious
problems so far in the financialsector, none of the banks are
banking on more stimulus.
In their economic forecasting,
each bank takes a range of possi-
ble outcomes into account, from
better than expected to dooms-
day. On Wednesday, Bank of
America’s chief financial officer,
Paul Donofrio, said just one of the
scenarios it was looking at might
contain more stimulus money.
And that model is based on a con-
sensus of various Wall Street
economists’ forecasts; the bank’s
own internal models aren’t count-
ing on further relief.
JPMorgan’s economic forecast
accounts for the effects of a gov-
ernment stimulus package only
until the end of 2020. No more
stimulus is built into its models
for 2021.
The bank’s chief executive,
Jamie Dimon, and his peers have
all pointed out that the industry is
grappling with a great deal of un-
certainty about the future. JP-
Morgan might be overprepared if
the economy fares better than ex-
pected — but a worst-case sce-
nario could still expose the bank
to heavy losses.
Although his bank is not ex-
pecting further federal relief next
year, Mr. Dimon said another
round of stimulus would be im-
portant.
“There are still 12 million peo-
ple unemployed. There is still a lot
of pain and suffering. There are
still a lot of small businesses that
need help,” he said.
Indeed, calls for more govern-
ment aid to struggling businesses
are growing, even as an impasse
in Washington seems unlikely to
end as Election Day draws near.
On Wednesday, a former Gold-
man Sachs executive, Gary Cohn
— who served for a year as Presi-
dent Trump’s economic adviser —
urged lawmakers to get a deal
done quickly.
“This isn’t a matter of politics,
this is a matter of protecting our
economy as we know it,” Mr. Cohn
wrote on Twitter.While Pandemic Slams Main Street, Big Banks Are Taking It in Stride
By EMILY FLITTER
and KATE KELLYSmall businesses across the country are going out of business, but big banks say they are generally ready for the wave of loan defaults in the pipeline.NAM Y. HUH/ASSOCIATED PRESSFRANKFURT — Berkshire Hath-
away may have found a way to get
back some of the hundreds of mil-
lions of dollars it lost after buying
a seemingly solid German pipe
maker that turned out to be on the
verge of going bust.
The conglomerate, led by War-
ren E. Buffett, is suing Jones Day,
the law firm that represented the
owners of the pipe maker when it
was sold to a Berkshire Hathaway
subsidiary in 2017. The lawsuit,
filed late last month, accuses
Jones Day of helping to trick Berk-
shire Hathaway into paying five
times what the German company
was worth.
There is not much chance that
Berkshire Hathaway will recover
any money from the sellers of the
pipe maker, Wilhelm Schulz,
which was named for its founder.
The shareholders have declared
bankruptcy and are facing a crimi-
nal investigation in Germany. But
Jones Day is a prominent interna-
tional firm with deeper pockets.
The attempt to collect damages
from Jones Day is an unexpected
twist in the saga of Wilhelm
Schulz, which is based in Krefeld,
a city north of Düsseldorf. If the
suit is successful, it will be at least
a small consolation to Berkshire
Hathaway shareholders after the
company lost $23.3 billion in the
first half of 2020. (Profits re-
bounded in the later part of the pe-
riod, however.)
“The fraudulent transaction
would never have occurred with-
out Jones Day’s substantial assist-
ance,” according to the lawsuit,
filed in U.S. District Court in Hous-
ton on behalf of Precision Cast-
parts, a Berkshire Hathaway sub-
sidiary that makes components
for aircraft. The lawsuit accuses
Jones Day of withholding docu-
ments that would have exposed
Wilhelm Schulz’s perilous finan-
cial state and calls the firm a “co-
conspirator” in a “massive fraud.”
Ulrich Brauer, the partner in
charge of Jones Day’s office in
Düsseldorf, said the firm would
not comment on a pending case.
Jones Day lawyers in Houston
and Düsseldorf handled the sale of
Wilhelm Schulz, which specializesin pipes for the oil and gas indus-
tries. Jones Day also represented
the owners, who included Wolf-
gang Schulz, the son of the
founder, when the case went be-
fore an arbitration panel in New
York.
The panel found in April that
Mr. Schulz and other managers
had used false sales invoices, com-
puter hacks and phantom
customers to make Wilhelm
Schulz look healthier than it was
and hoodwink Precision Cast-
parts into paying a grossly inflat-
ed price. The deal was a rare mis-
step for the organization run by
Mr. Buffett, who is considered one
of the savviest investors in the
world.
The arbitrators awarded 643
million euros, or $756 million, in
damages to Precision Castparts,
which is based in Portland, Ore.
That is the difference between the
€800 million that Precision Cast-
parts paid for Wilhelm Schulz and
its estimated true value of €157
million. The arbitrators’ decision
was upheld in July by the U.S. Dis-
trict Court for the Southern Dis-
trict of New York.
Because the holding company
controlled by Mr. Schulz is in in-solvency proceedings, “it is un-
clear if it will pay even a fraction of
the damages it caused,” according
to the lawsuit on behalf of Preci-
sion Castparts, which says Jones
Day should pay the arbitrators’
award instead.
German prosecutors are pursu-
ing a criminal investigation of Mr.
Schulz and others involved in the
deal but have not filed any
charges. A spokesman for the
Düsseldorf state’s attorney’s of-
fice, citing German privacy laws,
said he could not divulge any in-
formation about potential sus-
pects. Mr. Schulz has denied
wrongdoing.
Normally a law firm’s commu-
nications with clients would be
considered privileged, offering
some protection to Jones Day. The
firm has asked a Texas court to
seal the case on those grounds.
But Precision Castparts argues
that lawyer-client confidentiality
cannot be used to cover up fraud
under German or United States
law.
In addition, the claims against
Jones Day are based on files dis-
covered in Wilhelm Schulz offices
after the acquisition, according to
the lawsuit. Finders keepers, in
other words.
The suit was filed on Precision
Castparts’ behalf by Reid Collins
& Tsai in Austin, Texas, a law firm
that specializes in suing other law
firms.
The text of the lawsuit against
Jones Day has been partly re-
dacted while a Texas judge de-
cides whether the firm is entitled
to keep some information confi-
dential. But the central allegation
is clear: that Jones Day was
aware of information that would
have revealed Wilhelm Schulz’s
dire financial condition, but failed
to disclose it to Precision Cast-
parts.
For example, Schulz had fallen
behind on repaying a €325 million
loan from Commerzbank. In re-
turn for a bridge loan, the bank ne-
gotiated new terms that gave it
the right to take control of Schulz
if the company defaulted.
Wilhelm Schulz “was the corpo-
rate equivalent of a house about to
go into foreclosure,” the lawsuit
says. But Precision Castparts
never knew about the revised loan
agreement because Jones Day
withheld it, the lawsuit contends.
Jones Day also did not disclose
a report by the consulting firm
KPMG, commissioned by Schulz,
which concluded that the com-
pany faced an “imminent liquidity
crisis,” according to the lawsuit.
Nor, the suit says, did Jones Day
inform Precision Castparts that a
German lawyer had warned Wil-
helm Schulz managers that they
were legally obligated to declare
bankruptcy.
“Had Precision known the
truth,” the lawsuit says, “it would
have never acquired the Schulz
subsidiaries.”Berkshire Hathaway Says Law Firm Aided Fraud
By JACK EWINGPrecision Castparts paid 800 million
euros for Wilhelm Schulz, above.FELIX SCHMITT FOR THE NEW YORK TIMESMotel 6, Home Depot and Keurig
Dr Pepper have cut ties with the
Richards Group, an advertising
agency in Dallas, after a report
that its founder had made racist
remarks in a meeting last week.
During a Zoom gathering of
more than three dozen Richards
Group employees on Thursday, a
creative team working on the Mo-
tel 6 account presented an idea for
an ad to Stan Richards, who
founded the Richards Group in- Mr. Richards responded to
the idea by saying, “It’s too Black,”
according to a person at the meet-
ing, who said the ad would have
featured Black, white and His-
panic guests. Mr. Richards, who is
white, added that the ad might of-
fend or alienate Motel 6’s “white
supremacist constituents,” the
person said.
A Richards Group spokeswom-
an confirmed that Mr. Richards,
87, had made the “too Black” re-
mark, but said in an email that he
was trying to convey that the pro-
posed ad “was not multiculturally
inclusive enough.”
When asked about Mr. Rich-
ards’ comment on white suprema-
cists, which was first reported by
the publication AdAge, the agency
spokeswoman said, “Although his
comments did reference that
group, that quote is not correct.”
Mr. Richards apologized to hun-
dreds of the agency’s employees
on a Zoom call on Friday.
Motel 6, which is owned by the
private equity firm Blackstone
Group and has more than 1,400 lo-
cations in North America, termi-
nated its relationship with the
Richards Group on Monday, say-
ing in a statement that it was “out-raged” by Mr. Richards’ remarks.
Home Depot, a Richards Group
client for more than 25 years, was
the next company to cut ties with
the agency, saying on Wednesday
that it had “immediately begun
the process of finding a new adver-
tising agency.” Keurig Dr Pepper
also said that it was ending its re-
lationship with the agency, which
has worked with beverage brands
such as A&W, Clamato, Crush and
Dr Pepper.
The Salvation Army, another cli-
ent, said that it was “deeply con-
cerned” by the comments but “en-
couraged by the fact that Mr. Rich-
ards has made an apology.”
The Richards Group, which de-
scribes itself as the nation’s larg-
est independent ad agency, also
has worked with the grocery chain
H-E-B and the retailer Hobby
Lobby.
Glenn Dady, a creative director
who was tapped in December as
Mr. Richards’ eventual successor,
will immediately take control of
the company’s operations, the
agency said on Wednesday. Mr.
Richards, whose name is on the
University of Texas at Austin’s ad-
vertising school, will remain the
agency’s owner.
“We understand and regret the
pain and concerns of all those who
were deeply troubled by the words
our founder spoke,” Mr. Dady said
in a statement. “He can’t take
them back. We can only ask for for-
giveness and promise to learn and
be better.”
Motel 6 said it will continue to
use its famous slogan — “We’ll
leave the light on for you” — which
was coined more than three dec-
ades ago by the radio personality
Tom Bodett after the Richards
Group recruited him to be the Mo-
tel 6 spokesman.
The roadside chain agreed last
year to pay $12 million, mostly in
damages, after its employees
were found to have provided Im-
migration and Customs Enforce-
ment agents with information on
80,000 guests.Motel 6 has terminated its relationship with the Richards Group.ROSS D. FRANKLIN/ASSOCIATED PRESSMotel 6 and Home Depot
Drop Agency for Remark
By TIFFANY HSUOwner is said to have
called an idea for an
ad ‘too Black.’
IN THE UNITED STATES BANKRUPTCY COURT
SOUTHERN DISTRICT OF TEXAS, HOUSTON DIVISION
In re:
TAILORED BRANDS,INC.,et al.,^1
Debtors.)
)
)Chapter 11
Case No.20-33900 (MI)
(Jointly Administered)
NOTICE OF HEARING TO CONSIDER CONFIRMATION
OF THE CHAPTER 11 PLAN FILED BY THE DEBTORS
AND RELATED VOTING AND OBJECTION DEADLINES
PLEASE TAKE NOTICE THATon October 9, 2020, the United States
Bankruptcy Court for the Southern District of Texas (the“Court”) entered
an order [Docket No. 843] (the “Disclosure Statement Order”): (a)
approving theDisclosure Statement for the Debtors’ Fourth Amended Joint
Plan of Reorganization Pursuant to Chapter 11 of the Bankruptcy Code(as
modified, amended, or supplemented from time to time, the “Disclosure
Statement”); (b) establishing the voting record date, voting deadline,
and other related dates in connection with confirmation of theDebtors’
Fourth Amended Joint Plan of Reorganization Pursuant to Chapter 11 of
the Bankruptcy Code(as modified, amended, or supplemented from time
to time, the “Plan”);^2 (c) approving procedures for soliciting, receiving,
and tabulating votes on the Plan and for filing objections to the Plan;
and (d) approving the manner and forms of notice and other related
documentsastheyrelatetotheDebtors.
PLEASETAKEFURTHERNOTICETHATthe hearing at which the Court
will consider Confirmation of the Plan (the “Confirmation Hearing”) will
commence onNovember 10, 2020,at1:30 p.m., prevailing Central
Time, before United States Bankruptcy Judge Marvin Isgur, in the United
States Bankruptcy Court for the Southern District of Texas,located at 515
RuskStreet,Houston,Texas77002.
PLEASE BE ADVISED: THE CONFIRMATION HEARING MAY BE
CONTINUED FROM TIME TO TIME BY THE DEBTORS,IN CONSULTATION WITH
THE REQUIRED CONSENTING TERM LOAN LENDERS AND THE DIP AGENT,
OR THE COURTWITHOUT FURTHER NOTICEOTHER THAN BY SUCH
ADJOURNMENT BEING ANNOUNCED IN OPEN COURT OR BY A NOTICE OF
ADJOURNMENT FILED WITH THE COURT AND SERVED ON ALL PARTIES
ENTITLEDTONOTICE.
CRITICALINFORMATIONREGARDINGVOTINGONTHEPLAN
Voting Record Date. The voting record date isOctober 6,2020(the
“Voting Record Date”),which is the date for determining which Holders of
ClaimsareentitledtovoteonthePlan.
Voting Deadline. The deadline for voting on the Plan isNovember
9,2020,at4:00 p.m., prevailing CentralTime (the“Voting Deadline”). If
you received a Solicitation Package including a Ballot and intend to vote
on the Plan,youmust: (a) follow the instructions carefully;(b) complete
allof the required information on the ballot; and (c) execute and return
your completed Ballot according to and as set forth in detail in the voting
instructions so that it isactually receivedby the Debtors’ claims and
noticing agent, Prime Clerk LLC (the “Claims and Noticing Agent”) on or
before the Voting Deadline.A failure to follow such instructions may
disqualify your vote.
CRITICALINFORMATIONREGARDINGOBJECTINGTOTHEPLAN
ARTICLEVIIIOFTHEPLANCONTAINSRELEASE,EXCULPATION,AND
INJUNCTIONPROVISIONS,ANDARTICLEVIII.DCONTAINSA
THIRD-PARTYRELEASE.THUS,YOUAREADVISEDTOREVIEWAND
CONSIDERTHEPLANCAREFULLYBECAUSEYOURRIGHTSMIGHTBE
AFFECTEDTHEREUNDER.
THISNOTICEISBEINGSENTTOYOUFORINFORMATIONALPURPOSES
ONLY. IFYOUHAVEQUESTIONSWITHRESPECTTOYOURRIGHTS
UNDERTHEPLANORABOUTANYTHINGSTATEDHEREINORIFYOU
WOULDLIKETOOBTAINADDITIONALINFORMATION,CONTACTTHE
CLAIMSANDNOTICINGAGENT.
Plan Objection Deadline. The deadline for filing objections to the
PlanisNovember6,2020,at4:00p.m.prevailingCentralTime(the“Plan
ObjectionDeadline”). AllobjectionstothereliefsoughtattheConfirmation
Hearingmust: (a) be in writing;(b) conform to the Bankruptcy Rules,the
Bankruptcy Local Rules, and any orders of the Court; (c) state, with par-
ticularity,the legal and factual basis for the objection and,if practicable,a
proposedmodificationtothePlan (orrelatedmaterials)thatwouldresolve
such objection;and(d) be filed with the Court (contemporaneously with
a proof of service) and served upon the following parties so as to beactu-
ally receivedon or before the Plan Objection Deadline: (i)Co-Counsel to
the Debtors:KIRKLAND & ELLIS LLP,Attn: Joshua A.Sussberg,P.C.,Attn:
Christopher Marcus,P.C.,Attn: AparnaYenamandra,601 Lexington Avenue,
NewYork,NewYork10022-and-KIRKLAND&ELLISLLP,Attn: JamesH.M.
Sprayregen,P.C.,300 North LaSalle,Chicago,Illinois 60654 -and-JACKSON
WALKER LLP,Attn: Matthew D.Cavenaugh (TX Bar No. 24062656), Attn:
Kristhy Peguero (TX Bar No. 24102776), Attn: Veronica A. Polnick (TX Bar
No. 24079148), Attn: Victoria Argeroplos (TX Bar No. 24105799), 1401
McKinney Street, Suite 1900, Houston, Texas 77010; (ii)U.S. Trustee:
THE OFFICE OF THE UNITED STATES, TRUSTEE FOR THE SOUTHERN
DISTRICT OF TEXAS,Attn: Stephen Statham, Attn: Hector Duran, 515
Rusk Street, Suite 3516, Houston, Texas; (iii)Counsel to the Creditors’
Committee:PACHULSKI STANG ZIEHL & JONES LLP,Attn: Paul J.Labov,
Attn: Jeff Pomerantz,Attn: Ira Kharasch,780 3rd Ave,New York,New York
10017; (iv)Counsel to the DIP ABL Agent and the Prepetition ABL
Agent:MORGAN LEWIS & BOCKIUS LLP,Attn: Matthew F.Furlong,Attn:
Julia Frost-Davies, Attn: Christopher L. Carter, One Federal Street, Boston,
Massachusetts 02110; and (v)Counsel to the Ad Hoc Group:GIBSON,
DUNN & CRUTCHER LLP,Attn: Scott J. Greenberg, Attn: Matthew J.
Williams, Attn: Steven A. Domanowski, Attn: Keith R. Martorana, Attn:
JeremyD.Evans,200ParkAvenue,NewYork,NewYork10166.
ADDITIONALINFORMATION
Obtaining Solicitation Materials. The materials in the Solicitation
Package are intended to be self-explanatory. If you should have any
questions or if you would like to obtain additional solicitation materials
(or paper copies of solicitation materials if you received a an electronic
version), please feel free to contact Prime Clerk LLC, the Claims and
Noticing Agent retained by the Debtors in the Chapter 11 Cases (the
“Claims and Noticing Agent”) by: (a) calling the Debtors’ restructuring
hotline at (877) 461-5690 (toll free);(b) visiting the Debtors’restructuring
website at: https://cases.primeclerk.com/TailoredBrands; (c)writing to
Tailored Brands, Inc. Ballot Processing c/o Prime Clerk LLC One Grand
Central Place, 60 East 42nd Street, Suite 1440, New York, NY 10165; and/
or (d) [email protected]. You may also obtain
copies of any pleadings filed in these Chapter 11 Cases for a fee via PACER
at: http://ecf.txsb.uscourts.gov/. Please be advised that the Claims and
Noticing Agent is authorized to answer questions about, and provide
additional copies of, solicitation materials, but maynotadvise you as to
whetheryoushouldvotetoacceptorrejectthePlan.
The Plan Supplement. The Debtors will file the Plan Supplement
(as defined in the Plan) on or before the date that is fourteen (14) days
before the Confirmation Hearing,or as soon as practicable thereafter,and
will serve notice on all Holders of Claims and Interests entitled to vote
on the Plan,which will: (a) inform parties that the Debtors filed the Plan
Supplement; (b) list the information contained in the Plan Supplement;
and(c)explainhowpartiesmayobtaincopiesofthePlanSupplement.
BINDINGNATUREOFTHEPLAN: IFCONFIRMED,THEPLANSHALL
BINDALLHOLDERSOFCLAIMSANDINTERESTSTOTHEMAXIMUM
EXTENTPERMITTEDBYAPPLICABLELAW,WHETHERORNOTSUCH
HOLDERWILLRECEIVEORRETAINANYPROPERTYORINTERESTIN
PROPERTYUNDERTHEPLAN,HASFILEDAPROOFOFCLAIMINTHE
CHAPTER11CASES,FAILEDTOVOTETOACCEPTORREJECTTHEPLAN,
ORVOTEDTOREJECTTHEPLAN.
Houston,Texas, October 9,2020,/s/ Matthew D.Cavenaugh,Matthew D.
Cavenaugh(TXBarNo.24062656),KristhyPeguero (TX BarNo.24102776),
Veronica A.Polnick (TX Bar No.24079148),Victoria Argeroplos (TX Bar No.
24105799),JACKSON WALKER L.L.P.,1401 McKinney Street,Suite 1900,
Houston, Texas 77010, Telephone: (713) 752-4200, Facsimile: (713) 752-
4221,Email:[email protected],[email protected],[email protected],
[email protected],Co-Counsel to the Debtors and Debtors in Possession
-and-KIRKLAND & ELLIS LLP, KIRKLAND & ELLIS INTERNATIONAL
LLP,Joshua A. Sussberg, P.C. (admittedpro hac vice), Christopher Marcus,
P.C. (admittedpro hac vice), Aparna Yenamandra (admittedpro hac vice),
601 Lexington Avenue,New York,New York 10022,Telephone:(212) 446-
4800, Facsimile: (212) 446-4900, Email: [email protected],
[email protected], [email protected] -and- James
H.M. Sprayregen, P.C., 300 North LaSalle Street, Chicago, Illinois 60654,
Telephone: (312) 862-2000, Facsimile: (312) 862-2200, Email: james.
[email protected],Co-Counsel to the Debtors and Debtors in
Possession 1
The Debtors in these chapter 11 cases, along with the last four digits
of each Debtor’s federal tax identification number, are: Tailored Brands,
Inc. (8760); JA Apparel Corp. (2715); Jos. A. Bank Clothiers, Inc. (9198);
Joseph Abboud Manufacturing Corp. (3757); K&G Men’s Company, Inc.
(7726); Moores Retail Group Corp. (2464); Moores The Suit People Corp.
(1246);MWDCHoldingInc.(2643);NashawenaMillsCorp.(6845);Renwick
Technologies,Inc.(6365);Tailored Brands Gift Card Co LLC (9484);Tailored
Brands Purchasing LLC (4219);Tailored Brands Worldwide Purchasing Co.
(0881);Tailored Brands Shared Services,LLC (4752);TB UK Holding Limited
(1185); The Joseph A. Bank Mfg. Co., Inc. (6727); The Men’s Wearhouse,
Inc.(0172); and TMW Merchants LLC (7595). The location of the Debtors’
service address in these chapter 11 cases is: 6100 Stevenson Boulevard,
Fremont,California94538. 2
Capitalizedtermsusedbutnotdefinedhereinhavethemeaninggiven
tosuchtermsinthePlanorDisclosureStatement,asapplicable.Man With A Van territories.
Very low entry costs for experienced
operators.
Huge upside potential.
[email protected]Franchises/Distributorships
Lines Offered 3408