×
72 527
Fashion Jobs
BANANA REPUBLIC
General Manager - Tampa Premium Outlets
Permanent · LUTZ
CROCS
Crocs: sr. HR Systems Manager
Permanent · REMOTE
NORDSTROM
Asset Protection - Agent - Oakridge Rack
Permanent · San Jose
KOHLS
Full-Time Sales Supervisor - Softlines
Permanent · Forest Park
KOHLS
Full-Time Sales Supervisor - Hardlines
Permanent · Schaumburg
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
By
Reuters
Published
Oct 15, 2019
Reading time
2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Barneys nears bankruptcy deal with Authentic Brands, Saks owner

By
Reuters
Published
Oct 15, 2019

​U.S. luxury department-store chain Barneys New York Inc is nearing a roughly $270 million deal with brand developer Authentic Brands Group that could lead to Barneys shops opening in Saks Fifth Avenue stores, people familiar with the matter said on Monday.

Authentic Brands’ offer for Barneys calls for a handful of its storied brick-and-mortar outposts to remain open - Barneys


Without an offer from Authentic Brands, Barneys faced winding down its business entirely. It filed for bankruptcy protection in August, citing rent hikes as a factor in its decision.

Authentic Brands’ offer for Barneys calls for a handful of its storied brick-and-mortar outposts to remain open, potentially including its flagship Madison Avenue store in Manhattan and its Beverly Hills, California, location, the sources said.

Whether the existing retail locations remain open will depend on negotiations with landlords, they said. Barneys currently has seven physical retail locations remaining.

As part of the Authentic Brands deal, it will license the Barneys name to Hudson’s Bay Co, the owner of luxury department store chain Saks Fifth Avenue, the sources said. The agreement would also allow Hudson’s Bay to operate the Barneys website, one of the sources said.

The expected deal with Authentic Brands sets a floor for bids in a bankruptcy-court auction scheduled for later this month, should any arise.

A group led by fashion executive Sam Ben-Avraham has explored a bid for Barneys and is continuing to work an a potential deal that envisions keeping many of the retailer’s current stores open, one of the sources said.

Ben-Avraham did not immediately respond to a message seeking comment.

“We are encouraged by the strong buyer interest and recognition of the value in the Barneys assets and brand name,” Barneys Chief Executive Officer Daniella Vitale said in a statement.

“We continue to work diligently on the sale process with the goal of maximizing value and ensuring a long and successful future for the benefit of our employees, customers, vendors and other business partners.”

Authentic Brands did not immediately respond to requests for comment. Hudson’s Bay declined to comment. The sources spoke on the condition they not be identified because the discussions are confidential.

Authentic Brands is a prolific acquirer of labels, including Nine West.
The Wall Street Journal reported on the value of Authentic Brands’ bid for Barneys and its partnership with Hudson’s Bay earlier 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.

© Thomson Reuters 2023 All rights reserved.