By Suzanne Kapner and Juliet Chung Updated Oct. 14, 2019 11:37 am ET , said a person familiar with the matter.
Under the offer, Saks would take over the bankrupt retailer’s website, launch Barneys departments in 41 of its stores and potentially take over some Barneys locations. A group of investors led by trade-show executive Sam Ben-Avraham had been pursuing a separate offer for Barneys worth roughly $220 million. Others in the consortium include retail veterans and brand investors.
A Barneys lawyer said at a bankruptcy-court hearing on Friday that the company needed more time to firm up a potential deal with a lead bidder that would keep Barneys alive. The new deadline to clinch that offer was set for Tuesday.Copyright ©2019 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Source: News Formal (newsformal.com)
Oh just let it go!! Sooooo not worth the money!! Save your cash Saks & AuthenticBrands & HudsonBay! retail and fashion r slumping -no one cares anymore & Barneys has been empty 4yrs
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