Del Vecchio Family Sued Over Brooks Brothers Bankruptcy

Italy’s Del Vecchio family has been accused of “sabotaging” potential bids for Brooks Brothers and forcing the US menswear chain they controlled into bankruptcy to avoid paying tens of millions of dollars to its only outside investor. Tal Apparel, a Hong Kong clothing manufacturer which supplies one in every six formal shirts sold in the US, has sued Claudio Del Vecchio, his son Matteo, and Delfin, the holding company that controls their family’s investments in EssilorLuxottica, Mediobanca, and Generali. Its lawsuit, filed in the Southern District of New York, is seeking more than $100m in damages. Read more at Financial Times.