A venture backed by apparel-licensing firm Authentic Brands Group LLC and mall owner Simon Property Group Inc. has agreed to buy Brooks Brothers Inc. for $325 million. The proposed purchase of America’s oldest apparel company, which requires bankruptcy court approval, includes a commitment to keep 125 Brooks Brothers stores open. The retailer has roughly 200 stores in North America.

Source: Wall Street Journal August 12, 2020 02:48 UTC