202-Year-Old Brooks Brothers Prepping For Potential Bankruptcy

The 202 year-old clothing retailer Brooks Brothers is in talks with banks about raising financing for a potential Chapter 11 bankruptcy filing amid the coronavirus pandemic, according to a report by CNBC. The bankruptcy filing could come as soon as July, the report said.

JCPenney, Neiman Marcus, Pier 1 Imports, and J.Crew all have filed for bankruptcy during the coronavirus pandemic, while GNC and New York & Company warned that bankruptcy is a possibility.

Brooks Brothers was founded in 1818, according to its website.

Read more at NJ.com.

{Matzav.com}