Tag: Brigade Capital Management

Authentic Brands, Barneys nearing sale to Saks
Business

Authentic Brands, Barneys nearing sale to Saks

Extravagance retail establishment Barneys has worked through an arrangement to be sold that could keep the Madison Avenue lead alive — yet on a littler scale. Saks Fifth Avenue is collaborating with authorizing firm Authentic Brands Group to procure Barneys out of chapter 11 for $270 million, sources disclosed to The Post. The arrangement, whenever endorsed by the court, could help spare three Barneys stores — in Beverly Hills, Midtown Manhattan and Boston — and give Barneys a nearness in flourishing Saks stores, these sources said. Under the arrangement, ABG would gain the Barneys brand and Saks would pay a permitting charge to work Barneys.com and make a Barneys store inside Saks. The size of the Barneys small scale stores could be somewhere in the range of 10,000 and 50,000 squ...