Brooks Brothers files for bankruptcy

A sign on the Brooks Brothers store on Madison Avenue on the Upper East Side of Manhattan April 10, 2013 2013 in New York.

(Image credit: STAN HONDA/AFP via Getty Images)

last updated 8 July 2020

Another retailer has gone bust amid the COVID-19 pandemic.

Brooks Brothers, the business clothing chain which was founded in 1818, filed for bankruptcy protection on Wednesday, The Wall Street Journal reports. The company, which is closing about 50 locations, is looking for a buyer and "has secured a $75 million debtor-in-possession loan from WHP Global," the Journal says. This move comes after Neiman Marcus, J.Crew, and J.C. Penney previously filed for bankruptcy protection during the pandemic, CNBC notes.

A spokesperson told CNBC that Brooks Brothers has been "evaluating various strategic options to position the company for future success" and that "during this strategic review, COVID-19 became immensely disruptive and took a toll on our business." The Associated Press notes that Brooks Brothers was "one of the few national chains that produced its clothing in the U.S.," and The New York Times reports it's "the oldest apparel brand in continuous operation" in the country.

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Brendan worked as a culture writer at The Week from 2018 to 2023, covering the entertainment industry, including film reviews, television recaps, awards season, the box office, major movie franchises and Hollywood gossip. He has written about film and television for outlets including Bloody Disgusting, Showbiz Cheat Sheet, Heavy and The Celebrity Cafe.

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