As previously reported, on August 2, 2020, Tailored Brands, Inc. and certain of its subsidiaries commenced voluntary cases under chapter 11 of title 11 of the United States Code in the United States Bankruptcy Court for the Southern District of Texas. The Chapter 11 Cases are being jointly administered under the caption In re: Tailored Brands, Inc., et al., Case No. 20-33900 (MI). On August 27, 2020, the Company received approval from the Bankruptcy Court to provide notice to applicable landlords that the Company is rejecting certain operating leases primarily related to the Company’s stores and vacating such stores. Subject to the foregoing approval, the Company has committed to a plan to close up to 500 stores to be completed over the next several weeks. In connection with these store closures and the corresponding store organization and supply chain infrastructure and organization realignment, the Company expects to incur total cash charges of $25 million to $40 million, primarily consisting of $20 million to $30 million for severance and employee-related costs and $5 million to $10 million for other store closing costs including labor and supplies and transportation costs to move inventory from closed stores to the Company’s distribution centers. The estimate of total charges to be incurred may vary based on various factors including timing of the closures, outcome of negotiations with third parties and changes in management assumptions.