Giglio Group Exploring Bid for Brooks Brothers, DJ Reports
Milan-based Giglio Group SpA is leading a group of investors planning to bid for American clothing brand Brooks Brothers Group Inc., Dow Jones reported.
“It’s going to be a tough fight, but I like our chances,” Chief Executive Officer Alessandro Giglio said in an interview with DJ published Saturday.
“We normally help brands rather than buy them, but the opportunity to remake an iconic brand like Brooks Brothers from zero was too appealing to pass up,” Giglio said.
Brooks Brothers filed for bankruptcy earlier in July as coronavirus lockdowns knocked demand for business attire.
Interested bidders have to submit formal bids by Aug. 5, and potential suitors include Sparc Group and WHP Global Inc., DJ said, citing unidentified people familiar with the matter.
A spokeswoman for Brooks Brothers declined to tell DJ how many expressions of interest the company had received.
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