Supplier BulletinJan 22, 2026
The Rise of Centralized Sourcing in the Colored Gemstone MarketSponsored by RapNet
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
Editors' Picks
Sponsored by
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
SourcingJan 22, 2026
De Beers To Release ‘A Diamond Is Forever’ BookIt explores the history of the iconic tagline and the company’s strategy to redefine the role of diamonds in society.
MajorsJan 22, 2026
Stuller Names New Chief Merchandising, Marketing, Sales OfficerTaylor Burgess, who has been at Stuller since 2013, was promoted to the newly created role.
Brought to you by
How Jewelers Can Fight Back Against Cell JammersCriminals are using cell jammers to disable alarms, but new technology like JamAlert™ can stop them.
PodcastsJan 21, 2026
Episode 1: High Gold Prices, the Diamond Dilemma, & What’s NextWas 2025 a good year for jewelers? Did lab-grown diamonds outsell natural? Find out on the first episode of the “My Next Question” podcast.
Weekly QuizJan 22, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
EditorsJan 21, 2026
6 Jewelry Designers Poised to Have a Breakout Year in 2026Whether you recognize their jewels or are just discovering them now, these designers’ talent and vision make them ones to watch this year.
SourcingJan 21, 2026
Tucson Preview 2026: Earthy Tones and Innovative Shapes Buyers are expected to gravitate toward gemstones that have a little something special, just like last year.
Brought to you by
Impacting Tomorrow TodayHow Jewelers of America’s 20 Under 40 are leading to ensure a brighter future for the jewelry industry.
CrimeJan 21, 2026
4 Men Charged in $1.7M California Smash-and-Grab Jewelry Store RobberyPlus, JSA’s Scott Guginsky discusses the need for jewelers to take more precautions as the gold price continues to climb.
IndependentsJan 21, 2026
Delaware Jeweler Felice Morris Dies at 91Morris’ most cherished role was being a mother and grandmother, her family said.
CollectionsJan 21, 2026
Bulgari Weaves New Collection of ‘Vimini’ Creations“Vimini” is the first chapter of the “Bulgari Eternal” collection that merges archival pieces with modern creations.
Events & AwardsJan 21, 2026
Jewelers Mutual’s ‘Conversations’ Retreat Returns to Discuss AIThe third edition will be held in Half Moon Bay, California, in April.
Events & AwardsJan 20, 2026
These Are the 5 Finalists for the David Yurman Gem Awards GrantThe grant is in its first year and was created to recognize an exceptional fine jewelry designer whose star is on the rise.
ColumnistsJan 20, 2026
First-Party Data Is the Most Valuable Asset Jewelers Have in 2026Data built on trust, not tracking, will be key to success going forward, as the era of “borrowed attention” ends, Emmanuel Raheb writes.
MajorsJan 20, 2026
Borsheims Hires New Assistant Facilities ManagerHeath Yarges brings two decades of experience to the role.
EditorsJan 16, 2026
Remembering Pete Yantzer for His Contributions and His Kindness Pete’s boundless curiosity extended beyond diamond cut and he was always eager to share his knowledge with others, no matter the topic.
FinancialsJan 16, 2026
Richemont’s Jewelry Brands Shine in Q3Cartier, Van Cleef & Arpels, Buccellati, and Vhernier had another successful holiday season, Richemont reported this week.
TrendsJan 16, 2026
Diane Lane's Brooch Buzzes at the 2026 Golden GlobesOur Piece of the Week is Lagos’ “Bee” brooch that was seen on the red carpet for the first time on Sunday.
CrimeJan 15, 2026
D.C. Rapper ‘Taliban Glizzy’ Sentenced to 18+ Years for Jewelry Store RobberiesTrevor Jonathan Wright led a crew in a string of armed robberies targeting South Asian-owned jewelry stores on the East Coast.
Events & AwardsJan 15, 2026
Jewelers of Americas’ ‘20 Under 40’ Nominations Now OpenThe program recognizes rising professionals in the jewelry industry.
Events & AwardsJan 15, 2026
Registration for JCK Las Vegas 2026 Is Now OpenA new lifestyle section and a watch showcase have been added to this year’s event.
TrendsJan 15, 2026
Don’t Double-Dip With This Golden ChipAvocados From Mexico is celebrating those who love to double-dip in game day guacamole with a 14-karat yellow gold tortilla chip necklace.
SourcingJan 15, 2026
Nearly 42-Carat Blue Diamond Discovered in South AfricaPetra Diamonds unearthed the 41.82-carat, Type IIb blue diamond at the Cullinan Mine.
CollectionsJan 14, 2026
Marie Lichtenberg Lassos Leather for New BraceletsThe brand is trading its colorful fabric cords for Italian leather in its “Lasso” baby locket bracelets.
TechnologyJan 14, 2026
“My Next Question” Enters Its Podcast Era National Jeweler and Jewelers of America’s popular webinar series is evolving in 2026.
MajorsJan 14, 2026
Saks Files for Bankruptcy, Names New CEOThe department store chain owes millions to creditors like David Yurman, Roberto Coin, Kering, and LVMH.
CollectionsJan 14, 2026
Boucheron Names Colman Domingo as Brand AmbassadorThe award-winning actor’s visionary approach and creativity echo the spirit of Boucheron, the brand said.
