Merchandising

Brooks Brothers files for bankruptcy, closing stores

Photo by istock.com

July 10, 2020

Brooks Brothers, which is already shuttering 50 stores due to the ongoing COVID-19 pandemic, filed for bankruptcy this week.

The 202-year-old retailer, which operates more than 500 stores worldwide, is searching for a buyer as it seeks protection from creditors, according to a CNBC report.

The COVID-19 pandemic has proved "immensely disruptive," the retailer told CNBC.