Parent Company of Men’s Wearhouse, Jos. A. Bank Announce Store Closings

The parent company of Men’s Wearhouse and Josef A. Bank announces the shutting down of 250 stores nationwide.

Officials at Tailored Brands say all of its outlet stores will also be included in the shutdown.

They blame a steep decline in sales and suffering an operating loss of $1.1 billion.

The companies are well known for their promotional sales and even inspired a Saturday Night Live skit where families use the inexpensive suits to clean up everyday spills.

Tailored brands ended the signature sales in October of 2015.

Which stores are closing or how many employees will be affected has not been made public.