Tailored Brands, the parent company that owns both Men’s Wearhouse and Jos. A Bank, has filed for Chapter 11 bankruptcy protection, according to CNN.
The company runs more than 1,200 stores in the United States and 125 stores in Canada, also operating under the Moores Clothing for Men and K&G Fashion Superstore brands.
The move will help the company continue to operate while it works to restructure more than $630 million in debt.
Bernie Sanders famously lampooned Trump’s ill-fitting attire during a town hall meeting: “Gee, this guy’s a billionaire president. Why don’t his suits look good? My suit from Men’s Wearhouse fits better than his.”