The business, which can name Men’s Wearhouse, Jos. A. Bank and Joseph Abboud amongst its brands, has missed an interest payment of around $6.1M for Men’s Wearhouse on seven per cent senior bonds due in 2022. The retailer has a 30-day grace period to make the payment before an event of default occurs.
“Men’s Wearhouse has elected to enter into the 30-day grace period with respect to the interest payment,” Tailored Brands said in a filing with the Securities and Exchange Commission. “During the grace period, Men’s Wearhouse may elect to pay the interest payment and thereby remain in compliance with the indenture.”
