Iconic American suit maker Brooks Brothers files for bankruptcy
Brooks Brothers filed for bankruptcy early Wednesday morning.
The coronavirus pandemic and associated store closures hurt sales, but the retailer was reportedly considering restructuring even before the virus hit. Visit Business Insider's homepage for more storiesBrooks Brothers filed for Chapter 11 bankruptcy protection in the US bankruptcy court for the District of Delaware early Wednesday morning.
The retailer, often credited with inventing the American suit and which founded in 1818, is one of the oldest apparel brands in the country. , Brooks Brothers was considering restructuring even before the coronavirus pandemic hit, as annual sales were flat at around $1 billion for the years 2017 through 2019.
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