According to reports, the men`s clothing merchant filed Chapter 11, the youngest victim of the coronavirus, on Sunday night. The company`s situation was aggravated by its dependence on tailor-made clothing and the debt burden it made with the acquisition of Jos. A. Bank Clothiers raised $1.8 billion in 2014. It has already announced the closure of about 500 of its 1400 stores and the reduction of 20% of its workforce. The Houston, Texas-based retailer, which has already faced competition from fast fashion brands and a shift to online shopping before the pandemic, said it will continue to build on its previously announced plans to reduce its workforce by 20 percent and close up to 500 stores. During a hearing of more than three hours on the first day before the American judge Marvin Isgur. .
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