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Tailored Brands Inc. is making some dramatic moves to right the ship.
Early Tuesday, the parent of Men’s Wearhouse and Jos. A. Bank said it will close up to 500 stores and slash 20 percent of its workforce due to the coronavirus.
As a result, the company expects to record a pre-tax charge of about $6 million in the second quarter of fiscal 2020 for severance payments and other termination costs, all of which are cash costs, it said.
Dinesh Lathi, president and chief executive officer, said, “We have safely reopened almost all