TLRD - Tailored Brands emerges from Chapter 11 after completing restructuring

Tailored Brands (TLRD) says it has completed a financial restructuring and the implementation of the Plan of Reorganization confirmed by the U.S. Bankruptcy Court on November 13 and emerged from Chapter 11 bankruptcy.Tailored Brands emerges with $686M of debt eliminated from its balance sheet and the full support of its new owners and operates with a strengthened capital structure, consisting of a $430M ABL facility, a $365M exit term loan and $75M of cash from a new debt facility.The Company expects that the exit financing will support ongoing operations and enable the Company to execute on its strategic initiatives

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Tailored Brands emerges from Chapter 11 after completing restructuring