Authentic Brands and Sparc for Brooks Brothers

Authentic Brands and Sparc for Brooks Brothers

US apparel retailer Brooks Brothers should be acquired by Authentic Brands Group and Sparc Group after they increased their $305 million offer to $325 million.  The 200-year old apparel retailer filed for bankruptcy last month, joining a slew of decades-old American retailers that have succumbed to the Covid-19 pandemic. Sparc, a venture backed by brand manager Authentic Brands Group and mall operator Simon Property Group, has agreed to continue operating at least 125 Brooks Brothers retail locations. An hearing to approve the sale was currently scheduled in the next hours, with the deal expected to be complete by this month-end.

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