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Men’s Wearhouse Owner Seeks New Lifeline After Bankruptcy Exit
- Retailer needs $75 million of new money by beginning of March
- Silver Point agreed to back new loan that converts to equity
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Men’s Wearhouse owner Tailored Brands Inc. is seeking a lifeline to help it stay afloat less than three months after it emerged from bankruptcy protection.
Tailored Brands has “severely underperformed” compared to the projections in its Chapter 11 reorganization plan and needs roughly $75 million by the beginning of March to avoid a default, according to court papers.