Mourant acted for Tailored Brands Worldwide Purchasing Co in relation to its application for the appointment of joint provisional liquidators in the Cayman Islands in support of the successful restructuring of the Tailored Brands Group through Chapter 11 proceedings in the United States.
Tailored Brands Worldwide Purchasing Co (WPC), a Cayman Islands exempt company, was part of the Tailored Brands group of companies (the Group), a leading multi-national specialty retailer of men’s tailored clothing and the largest men’s formalwear provider in the United States and Canada. WPC’s role within the Group was to manage suppliers and to source inventory and other goods for sale in the Group’s retail stores, including Men’s Wearhouse, Jos. A Bank and Moores Clothing.
The Group experienced financial pressures, in part due to the global COVID-19 pandemic. On August 2, 2020, the Group filed a voluntary petition for relief under Chapter 11 of the United States Bankruptcy Code. Ancillary proceedings were also commenced in Canada and the Cayman Islands to support the restructuring under the Chapter 11.
Mourant acted for WPC in the Cayman Islands, working with Kirkland & Ellis and Alix Partners in the United States.
Mourant’s team included Peter Hayden (Picture), Harry Rasmussen and Jessica Vickers.
Law Firms: Mourant Ozanne;
Clients: Tailored Brands Worldwide Purchasing Co ;