Mall owner Simon and Authentic Brands make $305 million bid for bankrupt Brooks Brothers
An $80 million loan from the duo that refers to itself as Sparc came, in a rare deal, with no interest or fees.
Brooks Brothers, known as the pioneer of the polo shirt and uniform of the polished preppie, filed for Chapter 11 bankruptcy court protection from creditorsThis is certainly not the first time Simon and ABG have worked together, either. They are increasingly looking to do so — now through this Sparc entity. With ABG bringing expertise in manufacturing and licensing, Simon brings expertise in real estate.
Before Sparc was formed, ABG and Simon came together in 2016 to buy the teen apparel retailer Aeropostale out of bankruptcy. And, in a deal with mall ownerAmerica's biggest mall owners are increasingly looking to do deals to salvage retailers hit hard by the coronavirus pandemic,
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