Exhibit 99.1

UNITED STATES BANKRUPTCY COURT

MONTHLY OPERATING REPORT SUMMARY

***The original of this document must be filed with the United States Bankruptcy Court and a copy must be sent to the United States Trustee***

 

REQUIRED INSURANCE MAINTAINED			EXP.
AS OF SIGNATURE DATE			DATE
UMBRELLA	YES		05/01/21
D&O	YES		11/15/20
PROPERTY	YES		05/01/21
WORKERS COMP	YES		05/01/21
VARIOUS	YES		05/01/21

		CHECK ONE
Are all accounts receivable being collected within terms?		Yes	¨ No
Are all post-petition liabilities, including taxes, being paid within terms?		Yes	¨ No
Have all tax returns and other required government filings been timely paid?		Yes	¨ No
Have any pre-petition liabilities been paid?		Yes	¨ No

If so, describe

Payments made consistent with First Day Orders

Are all funds received being deposited into Debtor in Possession bank accounts?		Yes	¨ No
Were any assets disposed of outside the normal course of business?		¨ Yes	No

If so, describe

Are all U.S. Trustee Quarterly Fee Payments current?

Yes

¨ No

[1]  

A complete list of each of the Debtors in these chapter 11 cases may be obtained on the website of the Debtors’ claims and noticing agent at http://cases.primeclerk.com/TailoredBrands. The location of the Debtors’ service address in these chapter 11 cases is: 6100 Stevenson Boulevard, Fremont, California 94538. 

Notes to the Monthly Operating Report

INTRODUCTION:

This monthly operating report is unaudited and does not purport to represent financial statements prepared in accordance with GAAP nor are they intended to fully reconcile to the financial statements prepared by the Debtors. Unlike the consolidated financial statements, the MOR reflects the assets and liabilities of the Debtor(s), except where otherwise indicated. Information contained in the MOR has been derived from the Debtor’s books and records. Therefore, in order to comply with their obligations to provide monthly operating reports currently during these Chapter 11 Cases, the Debtors have prepared this monthly operating report using the best information presently available to them, which has been collected, maintained, and prepared in accordance with their historical accounting practices. This monthly operating report is, thus, true and accurate to the best of the Debtors’ knowledge, information and belief based on current available data. The results of operations and financial position contained herein are not necessarily indicative of results that may be expected for any other period or for the full year and may not necessarily reflect the consolidated results of operations and financial position of the Debtors in the future.

GENERAL METHODOLOGY:

The Debtors prepared this Monthly Operating Report relying primarily upon the information set forth in their books and records. Consequently, certain transactions that are not identified in the normal course of business in the Debtors’ books and records may not be included in this Monthly Operating Report. Nevertheless, in preparing this Monthly Operating Report, the Debtors made best efforts to supplement the information set forth in their books and records with additional information concerning transactions that may not have been identified therein. The Debtors' fiscal periods do not align with calendar months. The fiscal period reported for August 2020 is August 2 - August 29.

RESERVATION OF RIGHTS:

Given the complexity of the Debtors’ business, inadvertent errors, omissions or over inclusion of contracts or leases may have occurred. Accordingly, the Debtors hereby reserve all of their rights to dispute the validity, status, enforceability, or executory nature of any claim amount, representation or other statement in this Monthly Operating Report and reserve the right to amend or supplement this Monthly Operating Report, if necessary, but shall be under no obligation to do so.

Notes to MOR-2:

Balance sheet is presented as the combined total of Debtor entities in these cases and does not include eliminating accounting entries prepared in accordance with GAAP. Furthermore, this information is based on unaudited information, which may not reconcile to the Debtors' final consolidated financial statements for the period. Cash balances in balance sheet include cash not included in bank accounts, such as cash on hand, cash in transit and other accruals.

Notes to MOR-3:

Balance sheet is presented as the combined total of Debtor entities in these cases and does not include eliminating accounting entries prepared in accordance with GAAP. Furthermore, this information is based on unaudited information, which may not reconcile to the Debtors' final consolidated financial statements for the period. Accounts payable accruals may include invoices that had not been evaluated as liabilities subject to compromise as of month end. In this report these amounts are assumed to be post-petition obligations, pending the Debtors' normal-course invoice processing assessment.

Notes to the Monthly Operating Report

Notes to MOR-4:

The Debtors have sought to allocate liabilities between the prepetition and postpetition periods based upon the information available at the time of, and research conducted in connection with, the preparation of this MOR. As additional information becomes available and further research is conducted, the Debtors’ allocation of liabilities between the prepetition and postpetition periods may change. The liability information, except as otherwise noted, is listed as of the close of business as of the end of the month. Accordingly, the Debtors reserve all rights to amend, supplement or otherwise modify this MOR as necessary and appropriate. Accrued expenses have not been evaluated as liabilities subject to compromise and are subject to material change.

Notes to MOR-5:

Aging represents open and outstanding invoices that have been entered into the Debtors' accounts payable system. The aging does not include accruals for invoices not yet received or approved and is aged based on due date.

Accounts receivable aging only represents trade receivables. The balance of accounts receivable primarily consists of credit card receivables, credit card reserves and credits available under the CARES act.

Notes to MOR-6:

August amounts are from the entire fiscal month of August, which was August 2 through August 29.

Notes to MOR-7:

Although payment of prepetition claims is generally not permitted, the Bankruptcy Court has authorized the Debtors to pay certain prepetition claims in designated categories and subject to certain terms and conditions. This relief generally was designed to preserve the value of the Debtors’ business and assets. The Debtors have paid and continue to pay undisputed post petition obligations in the ordinary course of business.

Intercompany receipts and disbursements are excluded from this report. Based on centralized cash management practices, non- Debtor entities may make payments on behalf of other Debtor entities. To conform to U.S. Trustee disbursement reporting requests to track disbursements by Debtor and for purposes of quarterly fee calculations, the Debtors have made a reasonable effort to assign these disbursements to the entity on whose behalf the payment was made. However, this assignment may differ from the final intercompany accounting. Both Receipts and Disbursements are provided on book basis.

Notes to MOR-8:

The Debtors perform all bank account reconciliations in the ordinary course of business. Copies of the bank account statements and reconciliations are available for inspection upon request by the Office of the United States Trustee. Balances represent book balance.

Notes to MOR-9:

The list of insiders is consistent with public disclosures of Tailored Brands, Inc. and other filings associated with this Chapter 11 case. Payments to ordinary course professionals or consultants are not included in MOR-9.

UNITED STATES BANKRUPTCY COURT

MOR-2 - COMPARATIVE BALANCE SHEETS

COMPARATIVE BALANCE SHEETS

(Amounts in Thousands)

UNITED STATES BANKRUPTCY COURT

MOR-3 - COMPARATIVE BALANCE SHEETS

COMPARATIVE BALANCE SHEETS

(Amounts in Thousands)

UNITED STATES BANKRUPTCY COURT

MOR-4 - SCHEDULE OF POST-PETITION LIABILITIES

COMPARATIVE BALANCE SHEETS

(Amounts in Thousands)

Unaudited

*See MOR Notes

MOR-4

UNITED STATES BANKRUPTCY COURT

MOR-5 - POST-PETITION AP/AR AGING

AGING OF POST-PETITION PAYABLES

(Amounts in Thousands)

Unaudited

AGING OF ACCOUNTS RECEIVABLES

(Amounts in Thousands)

Unaudited

*See MOR Notes

MOR-5

UNITED STATES BANKRUPTCY COURT

MOR-6 - CONSOLIDATED STATEMENTS OF OPERATIONS

Consolidated Statements of Operations

(Amounts in Thousands)

Unaudited

*See MOR Notes

MOR-6

UNITED STATES BANKRUPTCY COURT

MOR-7 - CASH RECEIPTS AND DISBURSEMENTS

Cash Receipts and Disbursements

(Amounts in Thousands)

*See MOR Notes

MOR-7

UNITED STATES BANKRUPTCY COURT

MOR-8 - CASH RECONCILIATION

Bank Account Information

(Amounts in Thousands)

UNITED STATES BANKRUPTCY COURT

MOR-8 - CASH RECONCILIATION

UNITED STATES BANKRUPTCY COURT

MOR-8 - CASH RECONCILIATION

*See MOR Notes

MOR-8

UNITED STATES BANKRUPTCY COURT

MOR - 9 - PAYMENTS TO INSIDERS AND PROFESSIONALS [1]

PAYMENTS TO INSIDERS AND PROFESSIONALS

(Amounts in Thousands)

Of the total disbursements shown for the month, list the amount paid to insiders (as defined in Section
101(31)(A)-(F) of the U.S. Bankruptcy Code) and the professionals.

Also, for insiders, identify the type of compensation paid (e.g., salary, commission, bonus, etc.) (Attach additional pages as necessary).

*See MOR Notes

MOR-9