Company is offering between 40 to 50 percent off select styles, up to 70 percent off clearance items.
On Wednesday, Brooks Brothers announced it has filed for Chapter 11 bankruptcy protection and joins countless other retailers who have filed for bankruptcy since the pandemic shut everything down back in March, including JCPenney and J.Crew, among others.
"Today, Brooks Brothers filed for voluntary Chapter 11 protection in the United States Bankruptcy Court for the District of Delaware so that we can continue a sale process for the Company while serving customers," said Arthur Wayne, a spokesperson for Brooks Brothers, in a statement. "During this strategic review, COVID-19 became immensely disruptive and took a toll on our business."
The company also made a statement on its Facebook page:
"As you may have seen, we announced a sale process to find a new potential owner who believes in our mission and our values and who shares our ambition," the post said.
The business has been around for more than 200 years and started as a military uniform company before it moved to outfit 40 of the last 45 presidents. Brooks Brothers survived two world wars, as well as the huge shifts in the fashion industry throughout the years, but it just couldn't get out from underneath the force of the coronavirus pandemic.
In order to get some help with finances during the on-going sales process, Brooks Brothers will stay open for business and is even offering up some pretty good deals on its website. Get anywhere from 40 to 50 percent off select styles and up to 70 percent off sale items!
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