By Kuldip K. Ambastha
Brooks Brothers is a famous American retailing company, and was founded in 1818. Over the years, it has been a clothier of presidents (in the USA, 40 out of 45 [89% of these] individuals), royals, financiers, war heroes, and many other such prominent people. On Wednesday, July 8, 2020, the company filed for Chapter 11 bankruptcy court protection from creditors, and is continuing its search (started in 2019) for a purchaser. Volatility due to the coronavirus pandemic has been problematic, and rent payments for brick-and-mortar locations have become severely burdensome. The company has decided to close about 51 stores already, and further store closures may happen depending on how the economy looks going forward plus any plans a new owner may have.
Keywords – Brooks Brothers, Claudio Del Vecchio, presidents, royals, financiers, war heroes, USA, American, retailer, retail, clothing, coronavirus, pandemic, COVID-19.
Disclosure – The clients and principals of Ambastha Financial LLC do not have any positions in Brooks Brothers. Since the company is privately owned by Claudio Del Vecchio, it is not possible for others to have positions in Brooks Brothers.
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