The teary news that Syms and its subsidiary Filene's Basement are filing for bankruptcy and may soon disappear completely has one silver lining. It gives us an excuse to bring up this important PSA: Gentlemen, buy a damn tuxedo already! Just get it and forget it, and you'll save a few bucks in the long run.

Seriously, Syms going bankrupt is great news for men who've been putting off buying a tuxedo. Though the company tells us it doesn't have a last day set (or the fire sales that come with one), it will eventually. And even if it pulls through, damn it if the store doesn't already sell tuxes for a song. Not into going to Syms? That's okay, places like Men's Wearhouse sell their low-end tuxes for less than $100—and really all you need is the basic model. And you can even find them in your better second-hand shops. After you've picked up a bowtie and some cufflinks and maybe some shiny shoes your total price will still probably be less than you'd spend if you'd rented a tux twice (which, let's be honest, is not a preposterous idea).

"Now," we can hear you saying, "why would I want to own a penguin suit?" There are lots of reasons, but here are a few: Because renting them is a pain in the ass. Because it is better to be way overdressed at a wedding than to be underdressed. Because you can never go wrong on Halloween as James Bond. Because the ladies love them. Because you might decide you really want to go to—and fit in at—the Manhattan Cocktail Classic and its ilk. Finally, they just look sharp. And that should be reason enough.