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Wednesday, June 19, 2013

Men's Fashion News: Men's Warehouse Fires Founder, George Zimmer

This truly is an update and one that is confusing many who follow retail news. Men's Warehouse issued a press release today announcing that the company has fired its founder, George Zimmer.

This comes as a surprise as no news prior to this press release has hinted at:
  1. Any wrongdoing or scandal linked to Zimmer
  2. No significant financial loss occurred recently

Typically when a founder is fired there is something that has already gotten out to the press linking the founder to something that is or could bring ruin or vast hardship to the company. No hints of this existed. Even more questions arise as the press release seemed to have come before the company even hashed out all of the details of his termination:

The Board expects to discuss with Mr. Zimmer the extent, if any, and terms of his ongoing relationship with the Company.

It seems before a press release were to go out this would have been discussed with Zimmer. Perhaps the company felt it was more pressing to get this statement out because they had to postpone the annual shareholder's meeting in lieu of Zimmer's termination.

Right now many questions abound. Perhaps in the days to come the reasons for Zimmer's termination will become clear. Right now the waters look murky and that is not good.
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