Friday, July 10, 2020
Edelman is handling the Brooks Brothers bankruptcy as America's oldest apparel company falls to the casualization of corporate attire and pressures from the COVID-19 pandemic shutdowns.
The company pitches the reorganization as a way to facilitate its sale, which would "ensure that the iconic Brooks Brothers brand is positioned to continue serving its loyal customers for years to come."
“Our priority is to start this important chapter with a new owner that has appreciation for the Brooks Brothers legacy, a vision for its future, and aligns with our core values and culture," said CEO Claudio Del Vecchio
Brooks Brothers, which was founded in 1818, plans to close 51 of its 200 stores in the US . It has 500 stores worldwide.
Earlier this year, it announced a plan to close factories in New York City, Haverhill (MA) and Garland (NC).
Edelman's Arielle Patrick and Allison McLarty handle Brooks Brothers.