Brooks Brothers Files for Chapter 11 Bankruptcy Protection – Fashion

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Immediately after failing to protected bids for a potential sale, America’s oldest apparel retailer Brooks Brothers has now filed for Chapter eleven individual bankruptcy protection , adding to the list of businesses fallen thanks to the ongoing coronavirus pandemic. The filing was submitted on Wednesday, and notes that the business owes concerning $500 million USD to $one billion USD to roughly twenty five,000 creditors, a sum that contains $8 million USD in unpaid rent, when its property stated variety from $500 million USD to $one billion USD. Brooks Brothers experienced formerly already secured $75 million USD in debtor-in-possession funding…
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