Ex-Brooks boss Bill Roberti in £1m M&S battle
Bill Roberti, former boss of menswear group Brooks Brothers, is suing Marks & Spencer for £1 million in unpaid pension payments
The former boss of menswear group Brooks Brothers is suing Marks & Spencer for £1 million in unpaid pension payments.
Bill Roberti, an American businessman, has alleged that M&S was trying to get out of an agreement that is more than 25 years old.
New York-based Brooks Brothers was owned by M&S from 1988 to 2001, during which time Roberti ran the company for five years. M&S later sold the fashion brand to Retail Brand Alliance for £160 million.
But the clothing retailer, once one of the oldest in the United States, filed for bankruptcy three years ago, and Roberti claims he hasn’t received a pension since.
As a result, he has taken action against his former parent company Marks & Spencer to recover his money.
Legal action: Brooks Brothers filed for bankruptcy three years ago and Bill Roberti claims he has not received a pension since
The businessman says the department store chain would have to honor a 1993 contract that said it would cover all payments “not made by Brooks Brothers Group.”
M&S has rejected Roberti’s claims in their entirety saying the deal is no longer valid.
The British icon left the US entirely in 2006 by selling off King’s Supermarkets, a 26-member chain based in New Jersey.
As for Roberti, he is now a senior advisor at consulting firm Alvarez & Marsal.
He also formerly served in the United States military and held various positions at the Pentagon.
M&S declined to comment. Roberti’s legal team has been contacted for comment.