Sec Form 13D Filing - Scion Asset Management LLC filing for TAILORED BRANDS INC (TLRD) - 2019-12-13

Michael J. Burry

c/o Scion Asset Management, LLC

20665 4th Street, Suite 201

Saratoga, CA 95070

---

---

---

CUSIP No.  87403A107

SCHEDULE 13D

Page 4 of 9 Pages

1	NAMES OF REPORTING PERSONS
	SCION CAPITAL GROUP, LLC
2	CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP			(a)	☐
				(b)	☐
3	SEC USE ONLY
4	SOURCE OF FUNDS (SEE INSTRUCTIONS)
	AF
5	CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEM 2(D) OR 2(E)				☐
6	CITIZENSHIP OR PLACE OF ORGANIZATION
	California
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH		7	SOLE VOTING POWER
			0
		8	SHARED VOTING POWER
			3,100,000
		9	SOLE DISPOSITIVE POWER
			0
		10	SHARED DISPOSITIVE POWER
			3,100,000
11	AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
	3,100,000
12	CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)				☐
13	PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
	6.4% (1)
14	TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
	OO, HC

---

---

Item 1.

SECURITY AND ISSUER

Item 2.

IDENTITY AND BACKGROUND

Item 3.

SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION

The funds used for the purchase of the Shares reported herein came from the general working capital of each of Master, Value and the SMA, and may include margin borrowing and proceeds from short sales. Positions held in the margin accounts are pledged as collateral security for the repayment of debit balances in the account, which may exist from time to time. Because other securities are held in the margin accounts, it is not possible to determine the amounts, if any, of margin used to purchase the Shares reported herein. A total of approximately $22,272,339, including commissions, was paid to acquire the Shares reported herein.

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

As disclosed in the initial Schedule 13D, and consistent with their investment intent, the Reporting Persons have continued to engage in communications with management, as well as former members of management, regarding the Issuer, including but not limited to its operations, governance and control.  Among other things, the Reporting Persons have raised concerns with the Issuer about its consulting costs and the number of facilities the Issuer owns, and has recommended sale and leaseback transactions of the Issuer’s facilities (including warehouse, logistics and office space) as a means of generating cash for more pressing capital allocation needs, such as Share buybacks and debt reduction, consistent with the Reporting Persons’ suggestions in their August 2 Letter, August 19 Letter, and August 30 Letter that the Issuer implement a Share buyback and pursue aggressive debt reduction.

---

Item 5.

INTEREST IN THE SECURITIES OF THE ISSUER

Exhibit F

Schedule of Transactions, in response to Item 5(c)

---

	SCION ASSET PARTNERS, L.P.
	By:	SCION CAPITAL GROUP, LLC, its general partner
	By:	/s/ Michael J. Burry
		Name: Michael J. Burry
		Title:   Managing Member

---

EXHIBIT F