The proposed buy of America’s oldest attire firm, which requires chapter court docket approval, features a dedication to maintain 125 Brooks Brothers shops open. The retailer has roughly 200 shops in North America.
Sparc Group LLC, the Genuine Manufacturers-Simon enterprise, had initially bid $305 million for Brooks Brothers. The bankrupt retailer had chosen that provide because the lead, or stalking horse, bid for its property at a deliberate chapter public sale.
However the deadline for rival presents handed final week, and no public sale was held.