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Brooks Brothers Files for Bankruptcy, Closing 51 Stores

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Brooks Brothers, the storied seller of classic American clothing, filed for bankruptcy early Wednesday. Founded in 1818 by Henry Sands Brooks, the 202-year-old apparel retailer filed a voluntary Chapter 11 petition in Delaware and secured $75 million debtor-in-possession financing to keep it afloat while it searches for a buyer. Brooks will permanently close 51 stores…

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