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Rachel Barnett, general counsel & secretary of Brooks Brothers.

As Brooks Brothers was joining the likes of J.Crew, Neiman Marcus, JCPenney and other iconic American companies in filing for bankruptcy amid the novel coronavirus COVID-19 pandemic and a faltering economy, the Manhattan-based retailer’s general counsel was doing something a bit unorthodox. 

“Today, courtroom hearing, First day, Page 1, Chapter 11: we received an unprecedented DIP financing loan with a 0% interest rate/no fees. Never been done before in these circumstances,” Brooks Brothers top lawyer Rachel Barnett wrote in a LinkedIn post, one of several that provided updates on the company’s bankruptcy proceedings and subsequent sale. 

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Phillip Bantz

Phillip Bantz is a reporter for Corporate Counsel. Follow him on Twitter @PhillipBantz.

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