Brooks Brothers announced that Authentic Brands Group and SPARC Group LLC were the winning bidders for the suiting company.<br />Business Insider reports that Brooks Brothers filed for Chapter 11 bankruptcy last month.<br />ABG and SPARC increased its initial offer of $305 million to $325 million.<br />They agreed to keep at least 125 retail locations operating.<br />The group have previously worked together to purchase distressed retailers like Aeropostale and Juicy Couture.
