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.
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