Tailored Brands Divests MW Cleaners
FREMONT, Calif., March 14, 2018 /PRNewswire/ -- Tailored Brands, Inc. (NYSE: TLRD) today announced the company sold its MW Cleaners business on March 3, 2018, for approximately $18 million.
"MW Cleaners operated as an independent retail dry cleaning business separate from our vertically integrated dry cleaning operations that support our formalwear rental business. As part of our commitment to optimize our portfolio, focus on our core businesses and unlock cash flow, we decided to sell MW Cleaners," said Tailored Brands Chief Executive Officer Doug Ewert.
At the time of the transaction, MW Cleaners operated 38 retail dry cleaning, laundry and heirlooming facilities in Austin and Houston, Texas.
About Tailored Brands
As the leading specialty retailer of men's tailored clothing and largest men's formalwear provider in the U.S. and Canada, Tailored Brands helps men love the way they look for work and special occasions. We serve our customers through an expansive omni-channel network that includes over 1,400 locations in the U.S. and Canada as well as our branded e-commerce websites. Our brands include Men's Wearhouse, Jos. A. Bank, Joseph Abboud, Moores Clothing for Men and K&G. We also operate an international corporate apparel and workwear group consisting of Dimensions, Alexandra and Yaffy in the United Kingdom and Twin Hill in the United States.
For additional information on Tailored Brands, please visit the Company's websites at www.tailoredbrands.com, www.menswearhouse.com, www.josbank.com, www.josephabboud.com, www.mooresclothing.com, www.kgstores.com, www.dimensions.co.uk, www.alexandra.co.uk. and www.twinhill.com.
Julie MacMedan, VP, Investor Relations
Tailored Brands, Inc.
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SOURCE Tailored Brands, Inc.
Released March 14, 2018