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Men's Wearhouse Explains Firing Zimmer

Men's Wearhouse has explained why it fired executive chairman George Zimmer last week, depicting the founder as power-hungry in his desire to sell the company to private investors. "Mr. Zimmer reversed his long-standing position against taking the company private by arguing for a sale of the Men's Wearhouse to an investment group," the company's board of directors wrote Tuesday in a statement it made public.

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