When George Zimmer guarantees something, he means it. No poorly tailored suits leaving his stores. No ill-fitted mergers destroying his former company.
The founder of Men’s Wearhouse — who famously signed off the suitmaker’s TV commercials with, “You’re gonna like the way you look, I guarantee it” — is still deeply attached to the business despite being booted from it in 2013, a story for Inc. magazine’s June issue reveals. This is good news for some gravely disappointed shareholders who hate the way the company looks now. As the stock has cratered, Zimmer tells Inc. that he’s “been talking with private equity groups about trying to buy back Men’s Wearhouse.”
Now, what had been one of the most sensational M&A situations for traders during the past few years (even though it didn’t involve the largest of companies) is returning to the spotlight. The shares climbed about 3 percent on Monday morning on the prospect of Zimmer maybe, possibly returning as a hero to save the beleaguered retailer. Read more at Bloomberg