Brooks Brothers has permanently closed 8 stores as it weighs shuttering factories and eliminating as many as 700 jobs.

• Brooks Brothers could close three factories over the summer, potentially eliminating as many as 700 jobs.
• The three factories are in New York, North Carolina, and Massachusetts.
• The retailer is also permanently closing some stores.
• "In the ordinary course of business, Brooks Brothers consistently explores various options to position the Company for growth and success," a Brooks Brothers spokesperson told Business Insider.

Brooks Brothers could close its three factories in the US over the summer, according to WARN notices filed in New York, North Carolina, and Massachusetts. The layoffs would affect about 700 people.

The New York Times reported that the company is seeking a buyer for the three factories and expects to close them if it does not find one. On May 21, Gordon Brothers announced it would be giving Brooks Brothers a $20 million secured loan. Filing for bankruptcy protection is also reportedly being considered.

"In the ordinary course of business, Brooks Brothers consistently explores various options to position the Company for growth and success. As part of this assessment, it is possible that we will be closing our factories in Long Island City (NY), Garland (NC), and Southwick (MA)," a Brooks Brothers spokesperson told Business Insider.

"We delivered WARN notices to the impacted employees in order to provide workers with sufficient time to prepare for potential loss of employment. This decision is subject to change, should alternative solutions be uncovered in the near-term. The factories are incredibly meaningful to our heritage and we value our employees. All opportunities on the table are still being explored to avoid this difficult outcome."

The spokesperson added that the majority of the company's manufacturing takes place outside of the three factories and that its supply chain is "diversified and strong." They declined to comment on reports that Brooks Brothers could file for bankruptcy.

The retailer is also permanently closing some stores, including in Darien, Connecticut; Westport, Connecticut; New York, New York; Tucson, Arizona; Washington, DC; Palm Beach, Florida; Boston, Massachusetts; Greenvale, New York.

"We regularly evaluate our store portfolio to ensure we are well-positioned to serve our customers," the spokesperson said.

According to the Times, Brooks Brothers — one of the oldest apparel brands in the country — was considering restructuring even before the coronavirus pandemic hit, as annual sales were flat at around $1 billion for the years 2017 through 2019. Brooks Brothers furloughed about 80% of its staff and temporarily closed all of its stores in response to the coronavirus pandemic.

Here are the addresses of the closed stores:

987 Boston Post Road, Darien, CT 06820

125 Main Street, Westport, CT 06880 (women's store)

901 Broadway, New York, NY 10003

2905 East Skyline Drive, Tucson, AZ 85718

3077 M Street, Northwest, Washington, DC 20007

225 Worth Avenue, Palm Beach, FL 33480

75 State Street, Boston, MA 02109 (women's store)

412 Wheatley Plaza, Greenvale, NY 11548