The UK division of Brooks Brothers, the US business attire retailer, has gone into administration.
Begbies Traynor were appointed to try and save the business i.e. aim to sell it to interested parties.
This comes as the COVID-19 pandemic left more and more people working from home, leaving a lack of demand for its products.
It was just last July that its US parent company had filed for bankruptcy. The month after this and it was bought in a joint venture deal by Authentic Brands and Simon Property, thought to be worth $325m.
As of Monday 12 April, when nonessential retail can open in the UK, three of the retailers stores will open, that in; Westfield, Bicester and the London’s 02 Arena. In March the retailer’s Regent Street lease ended.
CityAM shared the news.