Broke Brothers - Oldest US Men's Retailer Files Chapter 11 Bankruptcy
Broke Brothers - Oldest US Men's Retailer Files Chapter 11 Bankruptcy Tyler Durden Wed, 07|08|2020 - 08:36 The forced work-from-home lockdowns have created an environment where the average working man (or woman or other) in America is now only visible from the shoulder up on his Zoom calls. This new normal of (in)formal meetings seems to have been the last nail in the coffin of America's most iconic menswear retailers as Brooks Brothers has just filed for bankruptcy (just weeks after Men's Wearhouse owner Tailored Brands considered the same). A month ago we noted that the 202 year-old clothing retailer Brooks Brothers was in talks with banks about raising financing for a potential Chapter 11 bankruptcy filing amid the coronavirus pandemic, according to a report by CNBC . Brooks Brothers Chief Executive Claudio Del Vecchio, told The New York Times at the time that while he was not “eager” to consider a Chapter 11 bankruptcy filing, he would not rule it out . It appears, despite The Fed's massive credit easing, that no one would rescue the oldest men's retailer and the closely-held company, which is owned by Italian businessman Claudio Del Vecchio, filed for bankruptcy protection in Wilmington, Del .
Broke Brothers - Oldest US Men's Retailer Files Chapter 11 Bankruptcy
Broke Brothers - Oldest US Men's Retailer Files Chapter 11 Bankruptcy Tyler Durden Wed, 07|08|2020 - 08:36 The forced work-from-home lockdowns have created an environment where the average working man (or woman or other) in America is now only visible from the shoulder up on his Zoom calls. This new normal of (in)formal meetings seems to have been the last nail in the coffin of America's most iconic menswear retailers as Brooks Brothers has just filed for bankruptcy (just weeks after Men's Wearhouse owner Tailored Brands considered the same). A month ago we noted that the 202 year-old clothing retailer Brooks Brothers was in talks with banks about raising financing for a potential Chapter 11 bankruptcy filing amid the coronavirus pandemic, according to a report by CNBC . Brooks Brothers Chief Executive Claudio Del Vecchio, told The New York Times at the time that while he was not “eager” to consider a Chapter 11 bankruptcy filing, he would not rule it out . It appears, despite The Fed's massive credit easing, that no one would rescue the oldest men's retailer and the closely-held company, which is owned by Italian businessman Claudio Del Vecchio, filed for bankruptcy protection in Wilmington, Del .