- Don-Alvin Adegeest |
Brooks Brothers, America’s oldest menswear clothier and purveyor of collegiate fashion, is to stop producing Made in the USA garments as it prepares to close three of its US-based factories. With 600 million dollars in debt, its management is tightening its belts. Primarily by no longer making them in its home market.
The New York-based company informed local and national authorities that it is planning to close its remaining factories in Long Island (New York) where it produces ties, Garland (North Carolina) where it makes shirts and another facility in Haverhill (Massachusetts). Over 400 jobs are expected to be cut.
According to a report by Bloomberg, Brooks Brothers has approximately 600 million dollars in debt and was searching for a buyer long before the coronavirus pandemic took hold.
“In the ordinary course of business, Brooks Brothers constantly explores various options to foster the company’s growth and success,” a spokesman told the Boston Herald. “As part of this assessment, we are likely to close our factories in Long Island City, Garland, and Haverhill. This week, we delivered notices to affected employees to give workers enough time to prepare for a potential job loss. This decision is subject to change if alternative solutions are identified in the short term. Factories are incredibly significant for our legacy and we value our employees. All the opportunities on the table are still being evaluated to avoid this difficult result. “
Image via Brooks Brothers website