Brooks Brothers Goes Bankrupt
Follow us on Google news for more updates and News
Brooks Brothers are looking for a buyer as it goes through BK reorganization. It’s closed 51 of the 250. Brooks Brothers of 500 stores worldwide.
One reason for Brooks Brothers’ had problem with its big rent obligations, but the company was also feeling some effects of a change in traditional business dress and shift towards casual.
Men’s Wearhouse owner Tailored Brands (TLRD), facing its own bankruptcy question.
Barneys of New York, sought bankruptcy protection last year, and it was followed by others suffered by the pandemic, including Neiman Marcus, J.Crew and J.C. Penney.
More bankruptcies are anticipated in the retail sector.
The virus-induced recession has cratered spending in most sectors of the economy and accelerated shifts in where people shop, mostly to the benefit of online retailers like Walmart.
PLEASE READ THE IMPORTANT DISCLOSURES BELOW.
This content is being provided to you for informational purposes only. The content has been prepared by third parties not affiliated with CWEB Inc, a business. This content and any information contained therein, does not constitute a recommendation by CWEB to buy, sell or hold any security, financial product or instrument referenced in the content. This information neither is, nor should be construed as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. CWEB Inc. does not offer or provide any opinion regarding the nature, potential, value, suitability or profitability of any particular investment or investment strategy, and you shall be fully responsible for any investment decisions you make, and such decisions will be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance, and liquidity needs.
Unless stated otherwise, the web content provided by the CWEB family of companies is for educational purposes only. The information and tools provided neither are, nor should be construed, as an offer, or a solicitation of an offer, to buy or sell securities by CWEB Inc. or its affiliates. Unless stated otherwise, no information presented constitutes a recommendation by CWEB Inc. or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy.