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Bid for Brooks Brothers

Sparc LLC has offered $305 million dollars to buy out the bankrupt brand.
This is the Brooks Brothers store in Downtown Pittsburgh.
This is the Brooks Brothers store in Downtown Pittsburgh.(AP Photo/Gene J. Puskar)
Published: Jul. 27, 2020 at 11:03 AM EDT
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(NBC) - To the rescue again?

The parent company of Simon Property Group, one of the nation’s largest mall owners, is making a bid to buy mens’ clothing store Brooks Brothers.

Sparc LLC has offered $305 million dollars to buy out the bankrupt brand. The offer is subject to better and higher bids and bankruptcy court approval.

The offer would keep at least 125 of Brooks Brothers’ stores open for business. Back in June, Simon Property Group was reportedly exploring a bid for the bankrupt JC Penney department store chain.

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