By Kuldip K. Ambastha
Tailored Brands, Inc. (TLRD), Seven & i Holdings Co. (SVNDY), and Marathon Petroleum Corporation (MPC) were in the news this past week. Tailored Brands owns retail fashion companies, such as Men’s Wearhouse and Jos A. Bank, and has filed for bankruptcy because of the coronavirus pandemic. The company is looking to restructure and reduce its debts through the bankruptcy process. Its workforce will likely be reduced by 20%, with as many as 500 stores closed.
Seven & i Holdings Co. (SVNDY), a large Japanese diversified retail group (known in the USA as the owner of 7-Eleven Inc.), was also in the news during the past week. Seven & i Holdings Co.’s 7-Eleven entity is buying a business unit (Speedway) from Marathon Petroleum Corporation (MPC), to expand its footprint in the USA. The agreement will include about 3,900 Speedway locations across 35 American states, for a price of $21 billion. 7-Eleven’s footprint in the Midwest plus on the East Coast will be expanded significantly through this purchase.
Keywords – Tailored Brands, Inc., TLRD, Men’s Wearhouse, Jos A. Bank, COVID-19, coronavirus, pandemic, Seven & i Holdings Co., SVNDY, Japanese, Japan, 7-Eleven Inc., American, USA, Marathon Petroleum Corporation, MPC, Speedway.
Disclosure – The clients and principals of Ambastha Financial LLC do not have any positions in Tailored Brands, Inc. (TLRD), Seven & i Holdings Co. (SVNDY), and Marathon Petroleum Corporation (MPC).
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