- Robyn Turk
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After filing for bankruptcy earlier this month Brooks Brothers has
reached an agreement for sale with multi-brand platform SPARC Group
LLC. A motion has been filed with the United States Bankruptcy Court
for the District of Delaware to attain approval for the sale of Brooks
Brothers’ assets for 305 million dollars.
SPARC intends to purchase all of Brooks Brothers’ global business
operations and acquire at least 125 retail locations.
A full-service retail operator, SPARC supports over 2,600 retail
stores, an e-commerce platform, and leading wholesale accounts in
North America, South America, Europe, and Asia Pacific. It is an
operating partner for the Aéropostale and Nautica brands. SPARC is
partially owned by Authentic Brands Group.
A court hearing is scheduled for August 3, and Brooks Brothers has
set a deadline for competing offers is set for August 5.
