Your current location:HOME >health >Storied apparel retailer Brooks Brothers files for bankruptcy amid pandemic 正文
TIME:2024-05-21 19:41:52 Source: Internet compilationEdit:health
A Brooks Brothers store is seen in Allen, Texas, the United States, on July 8, 2020. Brooks Brothers
A Brooks Brothers store is seen in Allen, Texas, the United States, on July 8, 2020. Brooks Brothers, one of the oldest apparel retailers in the United States, filed for bankruptcy protection on Wednesday, as the coronavirus pandemic continues to impact businesses. (Photo by Dan Tian/Xinhua)
NEW YORK, July 8 (Xinhua) -- Brooks Brothers, one of the oldest apparel retailer in the United States, filed for bankruptcy protection on Wednesday, as the coronavirus pandemic continues to impact businesses.
The company said in a statement that it has commenced Chapter 11 cases in the United States Bankruptcy Court for the District of Delaware to facilitate a value-maximizing sale process.
It has secured commitments for a debtor-in-possession financing facility of 75 million U.S. dollars from WHP Global, a New York-based firm that owns and develops global consumer brands, subject to court approval. This capital, together with cash flows from ongoing operations, would provide liquidity to support the company through the sale process, according to the statement.
Established in 1818, Brooks Brothers was the first American brand to offer ready-to-wear clothing and has continued throughout history with a wide range of iconic products. It has about 500 stores worldwide.
The 202-year-old company was among the big retail names that have stumbled into bankruptcy during the COVID-19 crisis. J.Crew, Neiman Marcus, JCPenney have all filed in recent months, partly citing headwinds from the pandemic.
More than 3 million confirmed COVID-19 cases have been reported in the United States as of Wednesday afternoon, with the death toll from the disease topping 132,000, according to data from Johns Hopkins University. Enditem
Young Boys seals 6th Swiss soccer league title in 7 years after rallying from firing coach Wicky2024-05-21 19:29
Polish lawmakers vote to move forward with proposals to lift near2024-05-21 18:47
Jill Biden calls Trump a 'bully' who is 'dangerous' to LGBTQ people2024-05-21 18:09
Argentine court blames Iran and Hezbollah for deadly 1994 Jewish center bombing2024-05-21 18:01
Analysis: Larson enters conversation with Verstappen as best drivers in the world2024-05-21 18:00
Haiti declares state of emergency amid violence, inmates on the run2024-05-21 17:46
How the OJ Simpson saga became a unique American moment2024-05-21 17:38
The US and UK restrict the trade of Russian2024-05-21 17:32
Ben Whishaw lights up the Croisette as he joins his co2024-05-21 17:31
Jury visits a ranch near US2024-05-21 17:01
Student fatally shot, suspect detained at Georgia's Kennesaw State University2024-05-21 19:29
Russian authorities announced mass evacuation for flood2024-05-21 18:40
How a hush money scandal tied to a porn star led to Trump’s first criminal trial2024-05-21 18:30
Philadelphia 76ers unveil sculpture of Allen Iverson2024-05-21 18:13
Uber and Lyft say they'll stay in Minnesota after Legislature passes driver pay compromise2024-05-21 18:09
Colombia's capital starts rationing water after reservoirs hit historically low levels2024-05-21 17:58
First attempt to catch orphaned orca calf in Canadian lagoon is unsuccessful2024-05-21 17:52
Some fear University of Michigan proposed policy on protests could quell free speech efforts2024-05-21 17:37
US overdose deaths dropped in 2023, the first time since 20182024-05-21 17:26
US and Philippines step up strategic partnership as China threats loom in South China Sea2024-05-21 17:07