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TLRD - Tailored Brands: Continued Challenges Ahead
Tailored Brands Inc.
Tailored Brands (TLRD) has seen a flattish price reaction in a market which is down a lot as it announced the closure of a bolt-on divestiture which made its investors a bit more optimistic. The company closed on the $115 million sale to sell Joseph Abboud Trademarks to WHP Global. While the proceeds are very much needed as the company has a real leverage issue at hand, the deal far from solves the leverage overhang. This is certainly the case as the operating environment is far from rosy at this point in time.