Incompatibility between breqn, thmtools and cleveref

[real-or-random]

The following does not compile:

\documentclass{article}

\usepackage{thm-restate} % from CTAN package thmtools
\usepackage{breqn}
\usepackage{cleveref}

\begin{document}

\begin{restatable}{theorem}{foo}
  Test
\end{restatable}

\end{document}

See https://tex.stackexchange.com/questions/527810 for details and a detailed analysis by Phelype Oleinik. He suggests in the comments to fix this in breqn because thmtools is not maintained.