Brooks Brothers to Seek Court Approval of Sale to Sparc for $325 Million

Buyer is controlled by brand management firm Authentic Brands Group and mall operator Simon Property Group

Brooks Brothers announced that Sparc Group, backed by Authentic Brands Group and Simon Property Group, will acquire it for $325 million. Getty Images

Brooks Brothers, which filed for Chapter 11 on July 8, has zeroed in on a buyer and will seek court approval of its sale to stalking horse bidder Sparc Group at an Aug. 14 court hearing, the apparel retailer said Tuesday.

The Business of Marketing

Don't miss The Business of Marketing, a new series featuring leading c-suite executives sharing insights on the importance of leveraging the intersectionality of marketing, finance, technology, HR and the boardroom to drive business growth. Tune in.

@RichCollings richard.collings@adweek.com Richard Collings is a retail reporter at Adweek.