Brooks Brothers notifies court auction adjourned one day to Aug. 11

By Caroline Salls

Pittsburgh, Aug. 10 – Brooks Brothers Group, Inc. said in a notice filed Monday with the U.S. Bankruptcy Court for the District of Delaware that the auction for its assets has been adjourned to Aug. 11.

The auction was previously scheduled for Aug. 10.

The notice said the sale hearing will still be held on Aug. 14.

As previously reported, Brooks Brothers received court approval to enter into a stalking horse agreement with Sparc Group LLC. According to the agreement, Sparc intends to purchase substantially all of the company’s global business operations as a going concern for $305 million.

Sparc has also committed to acquiring at least 125 Brooks Brothers retail locations.

Brooks Brothers is an apparel retailer based in New York City. The company filed bankruptcy on July 8 under Chapter 11 case number 20-11785.

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