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Brooks Brothers Bidding Narrows to Venture Backed by New Barneys Owner

  • WHP demurs after complaining its higher bid was ‘slow-walked’
  • The sale would keep more than 100 stores in business
Brooks Brothers Goes Bankrupt With Formal Attire Losing Favor
Photographer: Alex Edelman/Bloomberg

Bankrupt Brooks Brothers Group Inc. is on the verge of being sold to a partnership that includes the new owner of Barneys New York and one of the biggest U.S. mall operators.

Sparc Group LLC, which is backed by Authentic Brands Group LLC and Simon Property Group Inc., is expected to be the winning bidder after rivals including WHP Global dropped away, according to people familiar with the sale process. An official update could come as early as Tuesday, said the people, who weren’t authorized to speak publicly before the announcement.