Brooks Brothers has been in business for 202 years. A company that was able to survive WW1 and WW2, but it couldn’t withstand the devastation of the coronavirus pandemic.
The company is owned by Italian businessman Claudio Del Vecchio. The company filed for bankruptcy protection in Wilmington, Delaware yesterday. Brooks Brothers actually made their clothes domestically and will close three factories. It also operates 250 stores in North America. The company had been struggling because of a lack of interest in luxury clothing and had been looking to sell since 2019.
Authenic Brand Groups LLC and mall landlord Simon Property Group Inc. are discussing buying Brooks Brothers Inc.