Brooks Brothers Group Inc., which owned and operated the men’s fashion retailer before selling it last summer, will partially pay unsecured creditors and wind down its remaining assets after a court approved its bankruptcy plan.
The plan, confirmed Friday, calls for secured and administrative creditors to be paid in full, Brooks Brothers’ attorney, Garrett Fail of Weil, Gotshal & Manges LLP, said at a virtual hearing in the U.S. Bankruptcy Court for the District of Delaware.
Unsecured creditors are expected to recover 1.6% to 4.1% of claims totaling between $338 million and $463 million, according to the company’s court-approved ...
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