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You are here News Economy Brooks Brothers Joins List of Faded Luxury Facing Bankruptcy

Brooks Brothers Joins List of Faded Luxury Facing Bankruptcy

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Brooks Brothers factory facing bankruptcy

Another icon of luxury goods and Wall Street culture may be headed for the bankruptcy auction block, with Authentic Brands Group LLC and mall landlord Simon Property Group Inc. in talks to buy Brooks Brothers Inc.

Authentic and Simon would team up to bid for the two-century-old chain after a potential Chapter 11 filing by the retailer, according to people with knowledge of the talks. They asked not to be identified because the process is private. Authentic has a history of buying well-known brands that have fallen on hard times, and Simon, the nation’s biggest mall landlord, has a stake in keeping its prime tenants in business.

It’s been a tough few years for high-end goods, even before the Covid-19 outbreak forced Brooks Brothers to temporarily close its stores. Retailers including Barney’s New York Inc., Neiman Marcus Group Inc. and Dean & DeLuca have gone bust as shoppers shunned malls in favor of online outlets.

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