After the majority of American presidents dressed and their suits and shirts attracted the attention of international personalities, the American “Brooks Brothers” brand went bankrupt after it suffered heavy losses due to the Corona crisis.
On Wednesday, the company requested legal protection under Chapter 11 of the US bankruptcy law, which allows companies to restructure themselves without their creditors, as the company announced in a press release.But customers of this brand will be able to continue to wear their outfits, as the owner of “Brooks Brothers”, Italian businessman Claudio del Vecchio, will sell them, which means they will continue to work.
The sale of the company was on the table before the epidemic, as part of strategic studies on the company’s future, according to the statement.
A spokesman for Brooks Brothers said: “In this strategic study, the Coruna epidemic damaged our activities,” as stone measures shut down stores for weeks.
The epidemic prompted the company to shut down 51 stores in the United States, out of a total of 500 stores in the world, including two hundred in North America.
And last year, “Brooks Brothers” generated revenues of one billion dollars, according to the “Wall Street Journal,” which indicated that the company that makes clothes in the United States “intends to stop manufacturing in three American factories on August 15.”
Since its creation in 1818, this American company has worn a majority of American presidents, including John Kennedy, Abraham Lincoln, and Theodore Roosevelt.
The late French President Jacques Chirac was also a fan of the shirts and suits of this brand, while his successor, Nicolas Sarkozy, in the official photo taken at the Elysee Palace in 2007, is wearing a company-made suit “similar to the one that Kennedy wore”, according to a Kennedy family biography book. In 2013.