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CALIFORNIA | RETAILING | THE STATE

Men's Wearhouse to Buy Firm's Assets

March 05, 1997|Times Staff and Wire Reports

Men's Wearhouse Inc. said it will buy the trademark and other assets of Kuppenheimer's Men's Clothiers and run a going-out-of-business sale for the men's clothing chain. Terms were not disclosed. "It's an opportunity to enhance our presence in a consolidating industry," said Neal Rosen, a spokesman for Men's Wearhouse, one of the largest retailers of men's dress clothing in the U.S. Under an agreement approved by Kuppenheimer's creditors this week, Men's Wearhouse--whose executive offices are in Fremont--will buy its trademark, customer list, some fixed assets and other proprietary information. It will also acquire the right to assume any of the 43 remaining store leases from Kuppenheimer. Shares of Men's Wearhouse rose 75 cents to close at $25.25 on Nasdaq.

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