George Zimmer, the founder of Men’s Wearhouse Inc. who was ousted after encouraging the company to consider going private, has put the retailer in play -- with or without him.
The board of Men’s Wearhouse fired Zimmer as executive chairman last week, citing disagreements over the Houston-based retailer’s direction, including his desire to evaluate taking the clothing chain private. While management’s opposition to a sale makes a bid more complicated for private-equity firms, the $1.85 billion company offers cash generation, a clean balance sheet and limited exposure to swings in fashion trends, according to Cowen Group Inc.
