87 206
Fashion Jobs
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · CLERMONT
KOHLS
Full-Time Loss Prevention Supervisor
Permanent · DACULA
KOHLS
Technical Project Manager, Remote
Permanent · MENOMONEE FALLS
NAVY EXCHANGE
Vending Operations Clerk PT
Permanent · FALLON
NAVY EXCHANGE
Director, Facility Design %26 Construction
Permanent · VIRGINIA BEACH
NAVY EXCHANGE
Buyer (Level i And Level II) - Various Categories
Permanent · VIRGINIA BEACH
SPECIALIZED
Brand Development Manager - Michigan
Permanent · LANSING
ECCO
Third Keyholder
Permanent · ELIZABETH
ECCO
Third Keyholder
Permanent · LAS VEGAS
ECCO
Sales Manager - National Accounts (Remote)
Permanent · LONDONDERRY
ECCO
Third Keyholder
Permanent · ROSEMONT
LULULEMON
Community Specialist | Summit, Springfield Ave
Permanent · SUMMIT
LULULEMON
Expeditor | Cherry Creek
Permanent · DENVER
LULULEMON
Community Specialist | Friendly Center
Permanent · GREENSBORO
NORDSTROM
Customer Service Representative - Hillsdale Shopping Center
Permanent · SAN MATEO
NORDSTROM
Retail Stock - Mercer Mall Rack
Permanent · LAWRENCE TOWNSHIP
NORDSTROM
Manager- Service Experience- Baton Rouge Mall Rack
Permanent · BATON ROUGE
NORDSTROM
Retail Stock - Sugar House Rack
Permanent · SALT LAKE CITY
NORDSTROM
Asset Protection - Agent - Aventura
Permanent · AVENTURA
NORDSTROM
Retail Stock - Northwoods Rack
Permanent · SAN ANTONIO
NEIMAN MARCUS
Business Manager Tom Ford, Beauty (PT, 35 Hours) - FT. Worth
Permanent · FORT WORTH
NEIMAN MARCUS
Sales Manager, Designer Rtw
Permanent · CORAL GABLES
By
Reuters
Published
Jan 29, 2010
Download
Download the article
Print
Text size

Burkle seeks control of Barneys New York

By
Reuters
Published
Jan 29, 2010

LOS ANGELES, Jan 28 (Reuters) - Supermarket mogul Ron Burkle and his investment vehicle Yucaipa Cos has proposed taking a controlling stake in U.S. luxury retail chain Barneys New York in exchange for a $50 million cash infusion, a source familiar with the matter told the Wall Street Journal.



A Yucaipa spokesman could not be immediately reached for comment. Details of the proposal were laid out in a Dec. 11 letter from Burkle to the former chief executive of Dubai's Istithmar World Capital, which owns the retail chain, the Journal reported.

Last November, Yucaipa purchased a large amount of Barneys debt from Citigroup Inc (C.N) at about 60 cents on the dollar, the Journal said.

The reported loan deal would leave Istithmar World Capital with a 20 percent stake in the chain, known for its pricey duds and semi-annual warehouse sales.

Istithmar hired restructuring advisory firm Perella Weinberg last year to help it mull options to shore up its financial position.

The luxury chain, with stores in cities like New York and Chicago, has struggled in the recession as even wealthy consumers cut back on spending.

Istithmar, a unit of Dubai World [DBWLD.UL], bought Barneys for $942 million from Jones Apparel Group (JNY.N) in 2007. It provided some additional funding to the chain in April of 2009, allowing it to pay for its shipments for the rest of the year. (Reporting by Gina Keating; Editing by Bernard Orr)

© Thomson Reuters 2024 All rights reserved.