• The Wall Street Journal reports that "the race to buy Brooks Brothers out of bankruptcy is about to get a little more crowded with a group of Italian investors planning to bid for the quintessential American clothing brand and introduce some European flair."
According to the story, "Interested bidders include Sparc Group LLC, an apparel company backed by Authentic Brands Group LLC, which is providing financing to Brooks Brothers to get it through the bankruptcy, and WHP Global Inc., according to people familiar with the situation."
But now, there is another potential bidder: "Milan-based Giglio Group, which helps fashion companies improve online sales, is spearheading the group of investors. If successful, Giglio plans to install Italian managers with fashion-industry experience and close stores to free up funds to invest in digital. Brooks Brothers’ three U.S. factories, which are slated to close next month, would remain open and overseas production would be consolidated in Italy."
