Brooks Brothers received a bid from Sparc Group to buy the bankrupt entity at $305M. This is quite a tidy sum, to be sure – but there could be other suitors, such as the Italian Giglio Group, or even WHP Global, a syndicate of Blackrock and Oaktree. It’ll be interesting to see if there will be another bid before the August 5th deadline.
And lastly, gold rides higher, soaring past the 1900 level to set a new record…