Retail
Brooks Brothers Goes Bust With Business Clothes Losing Favor
- Pandemic keeps customers home, cutting demand for suits
- The company dressed presidents including Abraham Lincoln
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 John Varvatos Enterprises Inc. each filed for bankruptcy since the virus took hold.