Barneys New York, flanked by lawyers and financial advisers for months as it tangled with landlords, vendors and investors, is showing a more vulnerable side. The retailer has found in Authentic Brands Group a prospective buyer that would scoop up its web site and brand name — and potentially keep some stores after liquidating the current stock.
In a wistful Instagram post on Friday, the retailer described the ABG bid as a “positive step forward.” But it alluded to hopes for more. Perhaps a white knight, who would come in with the promise of a going concern bid that would keep the stores humming.
“We are working hard to achieve a successful sale process that will preserve the integrity of this incredible brand and ultimately benefit our employees, customers, vendors, and other business partners. We appreciate your patience and ongoing support of Barneys 🖤” Barneys posted.
Despite the $271.4 million stalking-horse deal with ABG and lender B. Riley, some of the retailer’s main constituencies, like vendors and employees, appear to still be pinning their hopes on Sam Ben-Avraham. The Kith backer is still in talks with landlords, vendors and employees to put together a bid for around $250 million or more that would
In a wistful Instagram post on Friday, the retailer described the ABG bid as a “positive step forward.” But it alluded to hopes for more. Perhaps a white knight, who would come in with the promise of a going concern bid that would keep the stores humming.
“We are working hard to achieve a successful sale process that will preserve the integrity of this incredible brand and ultimately benefit our employees, customers, vendors, and other business partners. We appreciate your patience and ongoing support of Barneys 🖤” Barneys posted.
Despite the $271.4 million stalking-horse deal with ABG and lender B. Riley, some of the retailer’s main constituencies, like vendors and employees, appear to still be pinning their hopes on Sam Ben-Avraham. The Kith backer is still in talks with landlords, vendors and employees to put together a bid for around $250 million or more that would