×
72 621
Fashion Jobs
NIKE
Consumer Planner, Global Sports Apparel
Permanent · Beaverton
BLOOMINGDALE'S
Manager, Sales - Luxury Textiles And Corporate Services
Permanent · New York
BLOOMINGDALE'S
Asset Protection Outlet Associate, Part Time - Dolphin Mall
Permanent · Miami
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Soho
Permanent · New York
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Palm Beach Garden
Permanent · Palm Beach Gardens
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Norwalk
Permanent · Norwalk
BLOOMINGDALE'S
Asset Protection Detective, Part Time - ny 59th st
Permanent · New York
MACY'S
Asset Protection Captain, Santa Maria Town Center - Full Time
Permanent · Santa Maria
MACY'S
Asset Protection Detective, Arden Fair - Full Time
Permanent · Sacramento
MACY'S
Asset Protection Detective, Boston - Full Time
Permanent · Suffolk
MACY'S
Asset Protection Detective, West Dade Miami Int'l - Full Time
Permanent · Miami
MACY'S
Asset Protection Detective, State Street - Full Time
Permanent · Chicago
MACY'S
Asset Protection Detective, st Louis Galleria - Full Time
Permanent · Old Saint Louis
MACY'S
Asset Protection Detective, Dayton Mall - Full Time
Permanent · Dayton
DESIGNER BRANDS
Merchandise Planner Wholesale, Vmi (Phoenix, az)
Permanent · Columbus
UNDER ARMOUR
Stock Teammate, Part-Time 6am Shift, $15 Per Hour
Permanent · JACKSON
PHV
Configuration Warehouse Supervisor ii
Permanent · Palmetto
RAG & BONE
Sales Supervisor (Full-Time) - Melrose
Permanent · Oakland
RAG & BONE
Sales Supervisor (Full-Time) - Georgetown Men's
Permanent · Washington
JOCKEY
Associate Manager at Jockey -Full Time $17/HR
Permanent · Edinburgh
SIERRA
30046-D/C Loss Prevention Specialist
Permanent · Cheyenne
TJ MAXX
Loss Prevention Customer Service Associate
Permanent · Greenvale
By
Reuters
Published
Oct 17, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Barneys enters deal to sell assets to Authentic Brands, B. Riley for $271 million cash

By
Reuters
Published
Oct 17, 2019

U.S. luxury department-store chain Barneys New York Inc has reached an agreement to sell its assets to brand developer Authentic Brands Group and investment bank B. Riley Financial Inc, a court document showed.




The deal comes as a “stalking horse purchase agreement”, with the price estimated to be about $271.4 million in cash, according to the court filing on Wednesday in the U.S. Bankruptcy Court in Poughkeepsie.

A “stalking horse” bid is used as a starting bid or minimally accepted offer that other interested bidders must surpass if they want to buy the company.

Any further bids must be received before a deadline on Oct. 22, according to the filing. In the absence of further bids by the deadline, the company will go ahead with the deal with Authentic Brands and B. Riley.

If it receives a bid before the deadline, Barneys may conduct an auction until Oct. 24.

Reuters reported on Monday that Barneys, which filed for bankruptcy protection in August citing rent hikes as a factor, was nearing a deal with Authentic Brands that could lead to Barneys shops opening in Saks Fifth Avenue stores.

Barneys is encouraged by the agreement but is also “actively pursuing” additional options, the Wall Street Journal reported on Wednesday, citing a company spokeswoman.

Authentic Brands could possibly keep some Barneys stores open based on talks with landlords, the Journal reported, citing a source.

A group led by fashion executive Sam Ben-Avraham has explored a bid for Barneys and was continuing to work on a potential deal that envisions keeping many of the retailer’s current stores open, a source told Reuters on Monday.

Barneys is one of the most high-profile victims of the downturn in retail, and underscores how even luxury department stores are not immune from fierce competition with e-commerce firms such as Amazon.com Inc.

Sears Holdings Corp, Toys “R” Us Inc and Gymboree Group Inc have also filed for bankruptcy in the last two years.

Without an offer, Barneys faced winding down its business entirely.

The company made its name in the 1930s by placing women dressed in barrels outside beer halls in New York City, where they handed out matchbooks advertising the store, according to the retailer’s website.

The store, now known for exclusive apparel made by designers such as Burberry Group Plc, began as a destination for middle-class families. It transitioned to luxury fashion in the 1960s.

© Thomson Reuters 2023 All rights reserved.