SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO SaysThe goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.
MajorsJul 09, 2020
Brooks Brothers Latest Retailer To File Chapter 11
The 202-year-old company, known for its classic suits, owns the Alexis Bittar and Carolee jewelry brands.
Brooks Brothers, which owns Alexis Bittar and Carolee, filed for Chapter 11 bankruptcy protection Wednesday. Pictured here are Carolee earrings from the fashion jewelry brand’s fall 2018 collection.
New York—Long hurt by Casual Fridays and hampered by COVID-19 in its efforts to find a buyer, Brooks Brothers and its fashion jewelry subsidiary have filed for bankruptcy protection.
The 202-year-old company, known for its stylish suits and preppy casuals, filed for Chapter 11 bankruptcy protection Wednesday in U.S. Bankruptcy Court in Delaware, with the goals of obtaining new financing and quickly finding a buyer.
“Like countless other retail companies, Brooks Brothers’ business has been impacted by significant operational and manufacturing challenges, as well as shifting retail industry trends in recent years,” said the retailer’s Chief Restructuring Officer Stephen Marotta of Ankura Consulting Group LLC in an affidavit filed Wednesday.
In 2019, Brooks Brothers began looking for a buyer or a merger opportunity but the onset of COVID-19 derailed that effort, making the storied-but-struggling retailer the latest to seek protection under Chapter 11.
“Our priority is to start this important chapter with a new owner that has appreciation for the Brooks Brothers legacy, a vision for its future, and aligns with our core values and culture,” Chairman and CEO Claudio Del Vecchio said in a company statement.
“Seeking protection to facilitate an efficient sale of the business is the best next step for the company to achieve its goals, over any other alternative.”
Brooks Brothers said it has secured commitments from investment company WHP Global for $75 million in debtor-in-possession financing, a type of financing extended to companies in distress overseen by the lender and subject to court approval.
The financing together with cash flows from ongoing operations will support it through the sale process, said the company.
The retailer is going to hold an auction where parties can submit qualified bids, and said it expects to complete the sale process in the next few months, pending court approval.
To our loyal customers. pic.twitter.com/OcAqFbu8v2
— Brooks Brothers (@BrooksBrothers) July 8, 2020
Filing alongside Brooks Brothers Group Inc. was jewelry subsidiary Deconic Group LLC, which manufactures, merchandises, markets, sells and licenses the Alexis Bittar and Carolee fashion jewelry brands.
The brands are sold online, at stores like Nordstrom and Bloomingdales, and through nine retail stores located in the Northeast, Midwest and in California. Deconic also leases an office and manufacturing facility in Brooklyn’s Industry City development and a showroom in Manhattan.
Brooks Brothers acquired Carolee LLC in 2001 and, under Carolee, Alexis Bittar in 2016. It overhauled its fashion jewelry business in 2017, relaunching as Deconic.
Deconic brought in approximately $15 million in
revenue for the fiscal year 2019, accounting for less than 2 percent of overall sales for Brooks Brothers, court papers show.
Asked about the future of Deconic, a company spokesperson noted the bankruptcy filing is “a sale process, not a liquidation of Brooks Brothers or Deconic’s brands.”
“Deconic will continue to do business as usual for the time being [and] we do not expect this to interrupt our ability to deliver the brands Alexis Bittar and Carolee,” the spokesperson said.
RELATED CONTENT: The Latest on the Neiman Marcus, JC Penney Bankruptcies
Founded in 1818 as H. & D.H. Brooks & Co. in New York, Brooks Brothers is the oldest apparel company in the United States, it noted in the bankruptcy filing.
The company operates about 425 retail and factory outlet stores worldwide, including 236 in the United States.
Like so many retailers, it closed nearly all of its stores when the pandemic hit and furloughed 2,900 of its 4,025 employees worldwide.
It said Wednesday that 51 of its 236 U.S. stores, or 22 percent, have closed or are in the process of closing permanently, while the others will reopen “as local and state public health and government officials allow and as it is economical to do so.”
Asked about the future of Deconic, a company spokesperson noted the bankruptcy filing is “a sale process, not a liquidation of Brooks Brothers or Deconic’s brands.”
“Deconic will continue to do business as usual for the time being [and] we do not expect this to interrupt our ability to deliver the brands Alexis Bittar and Carolee,” the spokesperson said.
RELATED CONTENT: The Latest on the Neiman Marcus, JC Penney Bankruptcies
Founded in 1818 as H. & D.H. Brooks & Co. in New York, Brooks Brothers is the oldest apparel company in the United States, it noted in the bankruptcy filing.
The company operates about 425 retail and factory outlet stores worldwide, including 236 in the United States.
Like so many retailers, it closed nearly all of its stores when the pandemic hit and furloughed 2,900 of its 4,025 employees worldwide.
It said Wednesday that 51 of its 236 U.S. stores, or 22 percent, have closed or are in the process of closing permanently, while the others will reopen “as local and state public health and government officials allow and as it is economical to do so.”
More on Majors
The Latest
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Weekly QuizJul 23, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
ColumnistsJul 28, 2026
Peter Smith: Why Your Job Postings May Be Working Against You Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
Events & AwardsJul 28, 2026
The Edge Funding 2 Scholarships Via 24 Karat Club SEUS The scholarships will go to early-career professionals looking to study gemology, bench work and jewelry design, or store operations.
SurveysJul 27, 2026
Jewelry Leads Luxury Market Amid Stabilization, Bain SaysBain & Company delved into the trends shaping the luxury market, the impact of AI, and more in its recent study.
SourcingJul 27, 2026
‘Rubies’ Goes on Display at Harvard MuseumThe exhibition reveals the gemology, geology, and cultural history of the iconic red gemstone.
Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
CollectionsJul 22, 2026
Monica Rich Kosann’s High Jewelry Is FruitfulThe “Enchanted Garden” series features a cherry, lemon, and pear that each hold a little secret inside.
IndependentsJul 22, 2026
Liljenquist Beckstead Opens Rolex New BoutiqueIt’s located in Tysons Galleria, an upscale shopping center in the Washington, D.C., metro area.
