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$2 Billion in Debt, Tailored Brands Offloads Joseph Abboud

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Tailored Brands has signed a deal to sell the intellectual property connected with the Joseph Abboud brand to WHP Global for $115 million. In a transaction expected to close by the end of March, the men’s wear firm will use the proceeds to pay down debt and strengthen its balance sheet. The parties separately entered…

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