Brooks Brothers to Seek Court Approval of Sale to Sparc for $325 Million

Buyer is controlled by brand management firm Authentic Brands Group and mall operator Simon Property Group

Brooks Brothers announced that Sparc Group, backed by Authentic Brands Group and Simon Property Group, will acquire it for $325 million. Getty Images

Brooks Brothers, which filed for Chapter 11 on July 8, has zeroed in on a buyer and will seek court approval of its sale to stalking horse bidder Sparc Group at an Aug. 14 court hearing, the apparel retailer said Tuesday.

@RichCollings Richard Collings is a retail reporter at Adweek.