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Demovictory9

(37,113 posts)
Fri Apr 2, 2021, 02:28 PM Apr 2021

Warehouse owning couple left with cost of $250K to dispose of bankrupt Brooks brothers stuff [View all]

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The Ghosts of Brooks Brothers
After the retailer filed for bankruptcy one couple was left with a warehouse full of abandoned mannequins and a price tag of nearly $250,000 to dispose of it.


The bones of Brooks Brothers stores are scattered across 100,000 square feet here in a warehouse near the Massachusetts border, mixed in with a sea of cardboard boxes and junk.

There are legions of mannequins, empty circular tables that once displayed neckties, posters of horseback-riding gentlemen from a bygone era. There is a whole section of Christmas trees and countless gold-painted ornaments of sheep suspended by ribbon — a Brooks Brothers symbol since 1850 known as the Golden Fleece. Blank order forms for tailors are strewn about. A neon sign that apparently still works. There is no apparel, but there are rows of heavy sewing machines that most likely came from one of the brand’s recently shuttered factories. And in the bathroom, a welcome carpet with Brooks Brothers written in cursive sits next to a toilet.

The whole mass was abandoned here in the fallout of Brooks Brothers’ bankruptcy filing and sale last year, the scraps of a retailer that made nearly $1 billion in sales in 2019. Ever since, the couple that owns the warehouse, Chip and Rosanna LaBonte, has been scrambling to figure out how to get rid of it all. Junk removal companies have told them it will cost at least $240,000 to clear the space, which Brooks Brothers had rented through November. In order to pay the bill, the LaBontes are going to have to sell their home.

The couple’s plight illustrates the far-reaching consequences of retail bankruptcies, which cascaded during the pandemic and affected everyone from factory workers to executives. Smaller vendors and landlords have often been left holding the short end of the stick during lengthy byzantine bankruptcy proceedings, particularly with limits on what they can spend on legal bills compared with larger corporations. And once bankrupt brands are sold, people like the LaBontes are typically left in the dust.


https://www.nytimes.com/2021/04/02/business/brooks-brothers-retail-bankruptcy.html?action=click&module=Top%20Stories&pgtype=Homepage
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I didn't know Brooks Brothers is bankrupt. rsdsharp Apr 2021 #1
Must be Ch. 11 (Reorganization) because Their Website is Still Running Stallion Apr 2021 #3
Bankrupt, sold, and now is primarily mail order Brother Buzz Apr 2021 #10
That's What Ch. 11 is-file a Plan of Reorganization, assume viable Ks, reject burdensome Ks Stallion Apr 2021 #11
Post it on Craigslist in the "Free" section intrepidity Apr 2021 #2
open it up to local artists to take what they can use. Artists love manniquins and parts of them ZonkerHarris Apr 2021 #5
Exactly nt intrepidity Apr 2021 #6
good idea Demovictory9 Apr 2021 #8
All they have to do is open the doors to "pickers" and it will be cleared out in no time. Vinca Apr 2021 #4
i would take one of those small tables Demovictory9 Apr 2021 #9
I wouldn't mind one of the sewing machines csziggy Apr 2021 #26
Yeah, right! Dreamy picking. LakeArenal Apr 2021 #13
Maybe they can have a riot sale NameAlreadyTaken Apr 2021 #7
Just advertise everything must go and it's free. LakeArenal Apr 2021 #12
Also St Vincents and Goodwill will pick stuff up LakeArenal Apr 2021 #14
Not stuff their clients can't use. SharonClark Apr 2021 #20
It's a lot of furniture. If it's sellable it's Goodwillable. LakeArenal Apr 2021 #21
I once worked for a company that went through bankruptcy Silent3 Apr 2021 #15
Lawyers get paid first. That is a universal truth. Progressive Lawyer Apr 2021 #16
If You Aren't a Secured or Preferred Creditor You're Probably wasting Your Time Stallion Apr 2021 #19
bankruptcy is legally cheating people nt msongs Apr 2021 #17
I hear that a lot. But bankruptcy is a legal tool to give people and business a second chance. LakeArenal Apr 2021 #22
sort of fescuerescue Apr 2021 #23
"Rows of heavy sewing machines" would be a great find for some start-up Hekate Apr 2021 #18
I dunno. Seems like there is a cheaper solution to this than a quarter million dollars fescuerescue Apr 2021 #24
And then, executives sometimes get bonuses to help smooth the transition to bankruptcy. keithbvadu2 Apr 2021 #25
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