Men's retailer Brooks Brothers is reportedly negotiating with unnamed banks as it seeks debtor in possession financing for a possible Chapter 11 filing.
According to CNBC, the retailer could file as soon as July but has not yet hammered out the financing it would need to complete restructuring.
Brooks Brothers Chief Executive Claudio Del Vecchio told The New York Times this week that while he was not “eager” to consider a Chapter 11 bankruptcy filing, he would not rule it out.
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