Tailored Brands sold its Corporate Apparel Business to the unit's management for $62m.

Tailored Brands, the leading specialty retailer of men’s tailored clothing and largest men’s formalwear provider in the US and Canada, sold its Corporate Apparel Business to the unit's management for $62m. “We are pleased to have reached an agreement to sell our corporate apparel business. The consummation of this transaction supports our previously stated strategy to focus on our core retail business in the U.S. and Canada while reducing debt,” said Tailored Brands President and CEO Dinesh Lathi. “We thank the management team and employees for their many contributions and wish them well.”