Brooks Brothers, the clothing store, will be joining the slew of unfortunate bankruptcy filings. Since the filing, the two most successful companies, Authentic Brands Group LLC and Simon Property Group Incorporated are partnering up to bid for the 200-year-old chain. Prior to the outbreak, expensive clothing lines, including Neiman Marcus Group and Dean & DeLuca, have had a difficult few years, leaving Brooks Brothers as just another front to take a hit in sales.
Due to weddings, graduations, proms, and other ceremonial events being cancelled, the “suit and tie” apparel has been traded for a more relaxed look with potential customers now working from home.
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