From bankruptcy to Nasdaq: the menswear suit retailer has filed for an IPO

Clothing retailer Tailored Brands reported rising quarterly revenue in its filing for an initial public offering in the US.

The Houston-based company posted net profit of $44.9 million on revenue of $681.8 million for the three months to 2 May. A year earlier it made $50.7 million of profit on $644.4 million of revenue. The number of shares on offer and the price range have yet to be set.

The timing catches an upswing: the US IPO market is benefiting from firmer equity markets, improving valuations and demand for capital in AI. Consumer listings have picked up too, after Donald Trump’s sweeping tariffs slowed activity last year. Womenswear label Reformation filed last month.

Tailored Brands is a specialist menswear retailer covering suits, formalwear and business casual. It runs more than a thousand stores in North America, and its portfolio includes Men’s Wearhouse, Jos. A. Bank and Moores, as well as the family format K&G Fashion Superstore.

The company’s history has a turn in it. In 2020 it filed for bankruptcy under the weight of the coronavirus crisis, but has recovered since. It filed confidentially for the IPO back in April. Hedge fund Silver Point Capital acquired a substantial stake after the bankruptcy and will remain the controlling shareholder after the offering.

Proceeds are earmarked for repaying debt and for general corporate purposes, including working capital, operating expenses and capital expenditure. Goldman Sachs, Morgan Stanley and Jefferies are among the underwriters. The shares will list on Nasdaq under the ticker MENW.