Brooks Brothers – historic US menswear brand that has been controlled by Italian entrepreneur Claudio Del Vecchio since 2001 – said it had accepted a purchase offer of 325 million dollars (275 million euros) from US companies Authentic Brands Group and SPARC. Brooks Brothers, which has existed since 1818 and is known throughout the world, was in crisis for some time and in early July he had asked for receivership. The agreement found with Authentic Brands Group and SPARC provides for 125 Brooks Brothers stores to remain open and for the company to continue operating under its brand. For the Brooks Brothers purchase to be completed it will need to be approved by a court: the newspapers write that this should happen in a few days and that the operation can be completed by the end of August.
– Read also: Why is Brooks Brothers in crisis?
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