Brooks Brothers Goes Bust With Business Clothes Losing Favor (1)

<-bsp-bb-link state="{"bbHref":"bbg://securities/54859Z%20US%20Equity","_id":"00000173-2f03-d229-a177-bffb37fc0000","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">Brooks Brothers Group Inc. filed for bankruptcy, felled by the pandemic’s impact on clothing sales and its own heavy debt load.

The two-century-old apparel company is the latest to succumb as lockdowns during the coronavirus outbreak add to the woes of old-line retailers. Neiman Marcus Group Inc., J. Crew Group Inc. and <-bsp-bb-link state="{"bbHref":"bbg://securities/0206360D%20US%20Equity","_id":"00000173-2f03-d229-a177-bffb37fe0001","_type":"0000016b-944a-dc2b-ab6b-d57ba1cc0000"}">John Varvatos Enterprises Inc. each filed for bankruptcy since the virus took hold.

The Chapter 11 bankruptcy filing in Delaware allows Brooks Brothers to keep operating while it works out a plan to turn the business around and pay its debts. The company listed assets and liabilities ...