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Tailored Brands Announces Sale of Corporate Apparel Business for $62 Million in Cash; Provides Update on Fiscal 2019 Second Quarter Results

FREMONT, Calif.--(BUSINESS WIRE)--Tailored Brands, Inc. (NYSE: TLRD) today announced that it has closed the sale of its corporate apparel business to a group led by the existing corporate apparel U.K. executive team for total cash consideration of $62 million, subject to certain working capital adjustments. Of the $62 million in total consideration, approximately $56 million was received upon closing and approximately $6 million is deferred to the first quarter of fiscal 2020.