Retail

Brooks Brothers seeks potential bankruptcy financing amid sale process

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A pedestrian wearing a mask walks past a Brooks Brothers storefront closed during the COVID-19 crisis on May 06, 2020 in Vancouver, Canada.

Andrew Chin | Getty Images

Brooks Brothers is talking to banks about raising financing for a potential bankruptcy that could come as soon as July, as the coronavirus pandemic squeezes the sales of the two-century-old retailer, people familiar with the matter tell CNBC.

Brooks Brothers is continuing a sale process it launched earlier this year to heavy interest, and could still conduct a sale without filing for bankruptcy, these people say.

However, its talks about so-called debtor-in-possession financing, which would support its operations in…



Source cnbc.com

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