Brooks Brothers, Hurt by Casual Fridays and Coronavirus, Files for Bankruptcy

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Source: The Wall Street Journal.

Brooks Brothers, Hurt by Casual Fridays and Coronavirus, Files for Bankruptcy

The 202-year-old maker of business suits, and one of the last with U.S. factories, joins other apparel brands in bankruptcy court

By Suzanne Kapner and Soma Biswas
Updated July 8, 2020 8:51 am ET

Brooks Brothers dressed the American business class in pinstripes for more than 200 years, survived two world wars and the shift to casual dressing. But it was no match for the coronavirus pandemic.

The closely held company, which is owned by Italian businessman Claudio Del Vecchio, filed for bankruptcy protection in Wilmington, Del., on Wednesday. One of the few brands to make clothes domestically, it warned in June that it could close its three U.S. factories. It has 500 stores around the world and roughly 200 in North America,...

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RETAIL
Storied apparel brand Brooks Brothers files for bankruptcy as it seeks a buyer and closes dozens of stores
PUBLISHED WED, JUL 8 20208:02 AM EDTUPDATED 2 MIN AGO
Lauren Hirsch
@LAURENSHIRSCH

https://www.cnbc.com/2020/07/08/brooks-brothers-files-for-bankruptcy-as-it-seeks-buyer-closes-stores.html

https://twitter.com/laurenshirsch