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 ...