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Bankrupt Brooks Brothers gets rescue takeover bid

Brooks Brothers Group has received a bid backed by Authentic Brands Group, the owner of Barneys New York, and mall owner Simon Property Group to buy the bankrupt clothing chain and keep it in business. Sparc Group, which is backed by Authentic and Simon, agreed to a US$305 million bid in a court-supervised auction for the company’s global business operations, according to a statement. The group has committed to take on at least 125 stores in its so-called stalking-horse bid, which sets a minim