NEW YORK — Barneys New York once again has a new owner — Perry Capital.
In a debt-for-equity swap cleaning up the balance sheet, Barneys has reached an agreement with its largest lender, Perry Capital, as well as The Yucaipa Cos., another key lender, and its current owner, Istithmar World, to significantly reduce its long-term debt from $590 million to $50 million. Perry Capital, run by Richard Perry, now becomes the majority owner of Barneys.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"