Brooks Brothers, the 202-12 months-aged men’s clothier that has dressed dozens of US presidents and many Wall Avenue bankers, filed for personal bankruptcy on Wednesday.
The storied New York-based retailer, which operates 200 retailers across the US and additional than five hundred globally, is the newest retail casualty of the coronavirus pandemic that has currently forced Neiman Marcus, JCPenney, J.Crew and others into personal bankruptcy proceedings.
The iconic brand, which popularized business-uniform staples such as striped “repp” ties and buttoned-down shirt collars, has struggled in recent years in an progressively relaxed workplace. Suits progressively have been changed by khakis, denims and hoodies.
This spring, even so, the coronavirus epidemic not only shuttered retailers but left clients hunkered down at home, doing work in sweatpants. Brooks Brothers experienced currently announced strategies to shut fifty retailers in advance of the Chapter 11 submitting.
Whilst most of its apparel is imported, Brooks Brothers