By  on October 16, 2019

Barneys New York has reached a roughly $271.4 million stalking-horse agreement with Authentic Brands Group and one of its debtor-in-possession lenders B. Riley Financial Inc., the retailer said in a court filing late Wednesday.

The deal will set the baseline bid for any competing offers. An auction will take place by Oct. 24 at the New York City offices of Barneys’ attorneys at Kirkland & Ellis LLP, and the company may ask the New York bankruptcy court overseeing the proceedings to approve the sale at a hearing on Oct. 31, Barneys said in its filing.

To continue reading this article...