The Limited Times

Now you can see non-English news...

Barneys NY to transfer all brand rights to all US stores

2019-10-17T21:53:25.682Z


Barneys New York, a luxury American department store that has failed its management, has agreed to sell assets to US brand management company Authentic Brands Group. All seven stores that were planned to remain in the US will be closed.


Barneys New York, a luxury American department store that has failed its management, has agreed to sell assets to US brand management company Authentic Brands Group. The company said that it would close all seven stores in the United States and give brand rights to Sax Fifth Avenue, a US company.

It was revealed in a 16-day document submitted to the US Bankruptcy Court and a report by the US Wall Street Journal. The sale amount is 271 million dollars (about 29 billion yen). Although the situation of liquidation without finding a buyer was avoided, all existing stores that were scheduled to continue operating as of August when applying for US bankruptcy law, including the flagship store in Madison Street in New York, were closed. Agreed.

Authentic, which plans to purchase assets in partnership with a US investment company, has about 50 brands such as Nautica and Nine West. The Barneys brand is also looking to take over the online store, as well as a luxury department store sax based in New York to use in its own store.

Other bidders by 22nd ...

Source: asahi

All news articles on 2019-10-17

You may like

Trends 24h

News/Politics 2024-03-28T06:04:53.137Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.