#Brooks Brothers files for bankruptcy, still searching for buyer

Brooks Brothers, the 202-year-old men’s clothier that has dressed dozens of US presidents and countless Wall Street bankers, filed for bankruptcy on Wednesday.

The storied New York-based retailer, which operates 200 stores across the US and more than 500 worldwide, is the latest retail casualty of the coronavirus pandemic that has already forced Neiman Marcus, JCPenney, J.Crew and others into bankruptcy proceedings.

One of the few US chains that still makes clothes domestically, Brooks Brothers said last month it may close its three US factories, one of which is in Long Island City, Queens.

The company has struggled in recent years as an increasingly casual workplace has replaced suits and ties with khakis, jeans and hoodies. This spring, however, the coronavirus epidemic not only shuttered stores but left customers hunkered down at home, working in sweatpants.

Brooks Brothers had already announced plans to close 50 stores before the Chapter 11 filing. The company said it intends to keep searching for a buyer after the COVID-19 crisis threw a wrench into the company’s plans to sell itself. The chain has snagged $75 million in financing to support it through the Chapter 11 process, court records show.

“The purpose of this filing is to obtain additional financing and facilitate a sale process in an efficient manner to maximize value for our stakeholders and ensure that our iconic brand is positioned to continue under new ownership,” a company spokesperson told The Post. “Brooks Brothers is here to stay and serve our loyal customers for years to come.”