The race to buy bankrupt Barneys ain’t over till its over.
The auction has been canceled and Authentic Brands Group has a credible court-accepted offer in, but other parties say they still have time to put together bids of their own.
“Yes, we are still pursuing the asset,” David Jackson, chairman of the luxury investment and advisory firm Solitaire Partners, told WWD on Friday. “We are targeting the Oct. 31 date,” which is when a hearing will be held to make a final determination on who gets to buy Barneys.
“We are confident that we will submit a competitive bid but still have some work to do internally,” Jackson said. He said Solitaire is being backed by Middle Eastern investors in its quest for Barneys.
Sam Ben-Avraham, the trade show veteran and Kith backer, came up short with a bid earlier in the week, but he is reportedly working to improve his offer.
Some industry sources have questioned whether Solitaire’s efforts are wholehearted, given the firm jumped into the sale process late in the game. Asked about that, Jackson replied, “I’m sure we have our doubters, and we are comfortable being in the underdog role.”
Jackson is very familiar with Barneys, having served as chief executive
The auction has been canceled and Authentic Brands Group has a credible court-accepted offer in, but other parties say they still have time to put together bids of their own.
“Yes, we are still pursuing the asset,” David Jackson, chairman of the luxury investment and advisory firm Solitaire Partners, told WWD on Friday. “We are targeting the Oct. 31 date,” which is when a hearing will be held to make a final determination on who gets to buy Barneys.
“We are confident that we will submit a competitive bid but still have some work to do internally,” Jackson said. He said Solitaire is being backed by Middle Eastern investors in its quest for Barneys.
Sam Ben-Avraham, the trade show veteran and Kith backer, came up short with a bid earlier in the week, but he is reportedly working to improve his offer.
Some industry sources have questioned whether Solitaire’s efforts are wholehearted, given the firm jumped into the sale process late in the game. Asked about that, Jackson replied, “I’m sure we have our doubters, and we are comfortable being in the underdog role.”
Jackson is very familiar with Barneys, having served as chief executive