Tailored and Jos A. Bank Franchisees Agree to Sever Agreements

Men’s Wearhouse owner Tailored Brands settles its dispute with 13 Jos A. Bank store franchisees and will sever their franchise agreements, lawyers for both sides say in bankruptcy court Friday.

• After Tailored filed for bankruptcy in August, those franchisees objected to the retailer’s bankruptcy plan because it rejected their franchise agreements
• The co. bought Jos A. Bank and its hundreds of U.S. Stores in 2014 and began working to wind down the franchise stores and get out of the franchise business
• Tailored said it had the right to reject the franchise agreements as part of its bankruptcy
  • “The debtors no ...