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New York & Tri-State  + Downtown New York  + Retail  | 

$325M Deal for Brooks Brothers Goes Before Bankruptcy Judge

A hearing is scheduled for Friday at U.S. Bankruptcy Court to approve the $325-million sale of Brooks Brothers to SPARC Group LLC, a venture of Authentic Brands and Simon Property Group. SPARC has committed to continue operating at least 125 Brooks Brothers retail locations.

The apparel retailer, founded in New York City in 1818, filed for Chapter 11 protection last month. At the time, it said it would seek a buyer while permanently closing 51 of its 230 stores.

“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, who acquired Brooks Brothers from British retailer Marks & Spencer in 2001.

Assuming bankruptcy court approval, the sale to SPARC is expected to be completed at the end of this month.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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