Authentic Brands Group LLC and mall landlord Simon Property Group Inc. are in talks over a joint bid to buy Brooks Brothers Inc. as part of a bankruptcy reorganization of the men’s clothing retailer, Bloomberg News reported. Authentic and Simon, which have teamed up before on deals for Forever 21 Inc. and Aeropostale Inc., is in discussions with Brooks Brothers to buy it in a court-supervised sale after a chapter 11 filing being contemplated by the retailer. The two-century-old menswear company has been seeking buyers as many of its stores struggle, even before the Covid-19 pandemic that shuttered retailers nationwide, Bloomberg News reported last month. Authentic Brands, which owns fashion, celebrity and media brands, has been snapping up distressed retailers in the past year. In addition to Forever 21, it bought Barneys New York Inc. out of bankruptcy. Mall operators like Simon, meanwhile, have been stepping up their involvement following a wave of store closings and bankruptcies. Brookfield, the second-largest U.S. mall operator after Simon, created a $5 billion fund this year to buy stakes in retailers.
