Thursday, July 9, 2020

Brooks Brothers files for bankruptcy while Men's Wearhouse and Jos. A Bank considering it, tales of the Retail Apocalypse and pandemic

I made a promise at the end of Company Man explains the rise and fall of Chuck E. Cheese's, a tale of the Retail Apocalypse and pandemic.
Going from the ridiculous to the sublime, Chuck E. Cheese's is not the most recent retail bankruptcy. Brooks Brothers filed for Chapter 11 today. I guess no one needs a business suit when they work from home and conduct business over Zoom. When I get a good video about it, I'll post an entry about it here. Stay tuned.
Not long after I posted that, CNBC uploaded Brooks Brothers files for bankruptcy as coronavirus claims another storied retail brand. Watch.

Apparel brand Brooks Brothers filed for bankruptcy Wednesday, as the coronavirus pandemic claimed another storied retail brand. The retailer began in 1818 and prided itself on dressing 40 U.S. presidents. Early to the office-casual look, it became known for its button-down oxford shirts and sports jackers. But rent had become a burden, and the pandemic torpedoed a sale process that began in 2019.
Brooks Brothers isn't the only clothing store selling suits in trouble because of the pandemic. Last month, Wochit Business uploaded Pandemic Lockdowns Drive Workers Into PJ's And Men's Wearhouse Out Of Business.

The parent company of Men's Wearhouse and Jos. Bank is eyeing filing for bankruptcy.
Tailored Brands was facing sales challenges even before office workers started working from home and events like weddings were postponed.
Business Insider reports a number of workwear and special events clothing is struggling amid the novel coronavirus COVID-19 pandemic.
Brooks Brothers is considering closing three factories in July, and Banana Republic was a low point of Gap Inc.'s earnings report last week.
In this crisis...Banana Republic was disadvantaged in its product mix as customers opted for casual style. Sonia Syngal CEO, Gap Inc.
If (when) Taylored Brands, which also runs Moore's and K&G Fashion Superstore, files for bankruptcy and a reputable source uploads a video about, I'll blog about it. I should also write an entry about Zoom, which I have used for years for Coffee Party business and is allowing people to attend meetings and classes while working and studying from home. Company Man has a video about the company that I will use. He also has uploaded a video yesterday about GNC, which announced it would close 900 stores last year. I plan on using that for another entry, making it the second update to Chuck E. Cheese, GNC, and Tuesday Morning all file for bankruptcy, tales of the Retail Apocalypse during the pandemic featuring a Company Man video.

Before I do any of that, stay tuned for the latest on Puerto Rico statehood for National Pina Colada Day, World Population Day, National Mojito Day, and the Louisiana and, Puerto Rico primaries. I love holidays, but they will keep me busy!

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