Retail stores that are closing in 2020

Is your favorite retailer going out of business this year?

Brooks Brothers

Credit: Flickr / Phillip Pessar

Brooks Brothers, the oldest men’s clothier in the U.S., filed for Chapter 11 bankruptcy court protection from creditors in July. “We are in the process of identifying the right owner, or owners, to lead our iconic Brooks Brothers brand into the future. It is critical that any potential buyer aligns with our core values, culture, and ambitions,” a spokesperson for the company said. While Brooks Brothers has yet to find a buyer, it already decided to shut down 51 of its stores due to the COVID-19 pandemic. Those closures have already started, with the company moving inventories from the targeted stores to distribution centers. Meanwhile, to support its operations in bankruptcy, Brooks Brothers secured $75 million in debtor-in-possession financing from brand management firm WHP Global.

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