Brooks Brothers

[wpbinzel]

Brooks Brothers, who made the "great coat" President Lincoln wore to Ford's Theatre on the evening of April 14, 1865, filed for bankruptcy today.

[LincolnMan]

Has an era ended?

[Susan Higginbotham]

Chapter 11 bankruptcy, which is reorganization instead of liquidation. Hopefully it'll pull through.

[wpbinzel]

(07-08-2020 06:22 PM)Susan Higginbotham Wrote:  Chapter 11 bankruptcy, which is reorganization instead of liquidation. Hopefully it'll pull through.

If Brooks Brothers cannot find a buyer, it is highly likely that the "reorganization" under Chapter 11 will result in "liquidation."

[RJNorton]

(07-08-2020 05:40 PM)wpbinzel Wrote:  Brooks Brothers, who made the "great coat" President Lincoln wore to Ford's Theatre on the evening of April 14, 1865, filed for bankruptcy today.

I have posted about this before, but I think this thread represents a logical time to post again. Forum member Reignette Chilton has written a wonderful book about the story of this coat. It's a fascinating read.

https://www.amazon.com/Lincolns-Greatcoa...oks&sr=1-1

[ReignetteC]

(07-08-2020 09:09 PM)wpbinzel Wrote:  

(07-08-2020 06:22 PM)Susan Higginbotham Wrote:  Chapter 11 bankruptcy, which is reorganization instead of liquidation. Hopefully it'll pull through.

If Brooks Brothers cannot find a buyer, it is highly likely that the "reorganization" under Chapter 11 will result in "liquidation."

I doubt Brooks Brothers will liquidate. It's an iconic brand that has been around since 1818

From the chapter, "A Magnificent Clothing House":

Just days before Mr. Brooks opened H. & D. H. Brooks & Co., Congress adopted the United States flag as having “thirteen red and white alternate stripes.” There were twenty states in the Union. James Monroe was a year into his first presidential term, and the Kentucky-born man who would rise to become the Great Emancipator was a mere lad of nine.

(Lincoln's Greatcoat: The Unlikely Odyssey of a Presidential Relic)

[RJNorton]

Thanks, Reignette.

[richard petersen]

An update from the WSJ. It appears that there will be a bidding war for Brooks Brothers led by the Milan based Giglio Group. Also appears to be bidding for the iconic brand will be Sparc Group LLC and WHP Global, Inc. I remember fondly my first BB blazer, shirt and rep tie. Days of a different era.

[Steve]

An update for those interested, Brooks Brothers has been sold jointly to mall owner Simon Properties and "brand management" company Authentic Brands Group. They've pledged to keep at least 125 Brooks Brothers stores open. According to Reuters, there were no other bids for the company:

https://www.cnbc.com/2020/08/12/brooks-b...sparc.html

[Jim Garrett]

Hope the brand continues. Shopping trends have changed so dramatically. I bought my son a suit from Brooks Bros. for his graduation from high school.