Barneys $271M Chapter 11 Sale Approved In New York

Law360 (October 31, 2019, 6:59 PM EDT) -- A $271 million sale of the assets of bankrupt luxury retailer Barneys New York Inc. received court approval Thursday in Delaware, with buyer Authentic Brands Group planning to license the storied brand to other retailers.

U.S. Bankruptcy Judge Cecelia G. Morris approved the deal, set to close Friday, which will see Authentic Brands close most of Barneys' stores, including its flagship location on Madison Avenue in Manhattan, and license the brand name to Saks Fifth Avenue to create in-store Barneys boutiques, according to court records.

Authentic Brands partnered with B. Riley Financial Inc. to consummate the deal, with B. Riley performing...

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