Brooks Brothers Can Defer $7M Of Store Rent In Ch. 11 Case

Law360 (July 30, 2020, 6:50 PM EDT) -- Men's suit retailer Brooks Brothers Group Inc. successfully lobbied a Delaware bankruptcy judge Thursday for a deferral of $7.2 million in rent and lease obligations until early September, saying the immediate payment of the rent would scuttle its ability to complete a Chapter 11 asset sale.

Debtor attorney Robert Berezin of Weil Gotshal & Manges argued that Brooks Brothers is in the midst of a liquidity crisis brought about by the COVID-19 pandemic and is reliant on post-petition financing to fund its pursuit of an asset sale.

Forcing payment of the rent obligations would eat into the cash provided under the...

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