Nearly 200-year-old apparel company Brooks Brother has remained the first choice of many American presidents. It is revealed that Brooks Brothers has filed for bankruptcy protection. Tell me, Brooks Brothers was founded in New York in 1818. The company has a very old and rich history.
Let us tell you that at least 40 presidents of America have worn it. When Abraham Lincoln was assassinated in 1865, he was wearing Brooks Brothers' coat at the time of his death. Brooks Brothers' two-button suits were a favorite of President John F. Kennedy. The company has successfully endured challenges such as two world wars, the Great Economic Recession and the presidential office loosening the standard of dress. In this way another big name has been added to the companies that are victimized due to Corona epidemic.
The company has filed an application under Chapter 11 of Bankruptcy Protection. The company is about to close more than 25 percent of its 200 stores. The main reason for this is COVID-19, the retail sector is facing serious challenges due to the coronavirus epidemic. Earlier, rival company Barneys New York had also filed for bankruptcy protection. Many national retail companies of America including J Crew, Neiman Marcus, JC Penney have also gone bankrupt. The corona epidemic has had a profound impact on the development of many areas.
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