Tailored Brands, owner of Men's Warehouse and Jos. A. Bank, filed for bankruptcy following the secular headwinds of declining professional attire, only accelerated by the coronavirus and stay-at-home orders.
Resilinc Corporation and CreditRiskMonitor.com, Inc. are forming a partnership, aiming to enable Fortune 1000 organizations to achieve greater visibility when it comes to gauging financial health of suppliers and overall supply chain risk.
CreditRiskMonitor management remains cautiously optimistic about the rest of the year, as many of our subscribers continue to struggle through the COVID-19 economic downturn and are implementing cost-cutting measures.
As a result of the COVID-19 restrictions put in place by the State of New York, the Annual Meeting of Stockholders of CreditRiskMonitor.com, Inc. will be held telephonically by means of remote communication.
Apparel retailers have required significant adjustments to handle their financial leverage and operating lease commitments. Brooks Brothers and Tailored Brands, in particular, fell prey to slowing demand for professional business attire, a trend which was accelerated by the coronavirus pandemic.
South African retailer Steinhoff is battling the fallout from a massive accounting fraud and facing legal claims amounting to more than $10 billion USD. Couple that with the overall industry deline due to coronavirus and bankruptcy could be very near.