Why Did Brooks Brothers Fail?

On Wednesday, Brooks Brothers filed for bankruptcy.
It was in business for over 200 years.
The coronavirus pandemic has hurt the retailer's business.
Business Insider reports the company has been considering strategic options for about a year.
"It has become increasingly out of step with a new generation of consumers who are looking for a more edgy approach to smart casual," Neil Saunders, managing director of GlobalData Retail, said in emailed comments.