Tag: bankruptcy

BUSINESS

The Oldest Men’s Store In U.S. File For Bankruptcy

Brooks Brothers, the oldest men’s clothier in the United States and headquartered on Madison Avenue in Manhattan, New York City, has filed for Chapter 11 bankruptcy protection. Founded in 1818 as a family business, the privately-owned company is owned by the Italian billionaire Claudio Del Vecchio. The brand also produces clothing for women, and Zac Posen has been its creative […]

NEWS

Sears In Axing Mode

Sears Canada got the go-ahead to liquidate its remaining stores following court approval last week. Consequently,  over 12,000 employees will soon be without a job. Ontario Superior Court received convincing arguments put forward by the parties involved and concluded that there was no viable path ahead as no buyer could be found. Justice Glenn Hainey approved Sears Canada’s motion to […]