Men's clothier Brooks Brothers files for bankruptcy

[BENGALURU] Men's apparel brand Brooks Brothers filed for Chapter 11 bankruptcy on Wednesday, joining a long list of retailers including Neiman Marcus that have crumbled under the impact of the coronavirus crisis.

Brooks Brothers, which has dressed nearly 40 former US presidents including John F Kennedy and Barack Obama, has been around for more than 200 years, making it one of the oldest US clothing retailer.

In a court filing, the company stated that it had assets and liabilities between US$500 million and US$1 billion.

REUTERS