Jos. A. Bank Clothiers Inc. has decided to move out of its current corporate headquarters in Owings Mills by July 1, according to an official at MacKenzie & Associates, the developer of the office park the retailer is leaving.
Robert J. Aumiller, executive vice president of MacKenzie, said yesterday that Bank is vacating 54,000 square feet of office space at McDonough Crossroads on Reisterstown Road in an effort to "reduce its overhead."
Bank, which operates a chain of 40 retail stores in 27 cities, is currently restructuring its debt. The company this week announced it had reached an agreement between its bondholders, stockholders and senior lender to turn over a majority stake in the company to bondholders.
He added that Bank officials had indicated they may move the headquarters to a distribution center that Bank owns in Hampstead, in Carroll County.
Timothy F. Finley, Bank's chairman and chief executive officer, could not be reached for comment.