What should i do about this groomsman?

i am getting married in 21 days. one of the groomsman came to us a day or two ago and is telling us that there is no way that he can come up with the $140 for his tux. he has know about needed this money for about 8 months now and has said that it was fine until it came to crunch time. i don't know what to do about him. we think that he is expecting us to pay for his tux but we just do not have the funds to do that. do we tell him he is no longer in the wedding, do we try to find a way to pay for it (my parents), do we replace him........ HELP!!!