By
with contributions from Miles Socha
 on October 30, 2019

Sam-Ben Avraham plans to submit another bid to buy Barneys New York, and potentially compete with the $271.4 million stalking-horse bid led by Authentic Brands Group and B. Riley Financial, according to sources familiar with the matter. A sale hearing is scheduled for Thursday.

The Kith backer had previously submitted a roughly $260 million bid to buy Barneys as a going concern that would keep at least five Barneys locations open, including its Madison Avenue and Beverly Hills flagships. Although he submitted that bid in time for a planned auction, it failed to make the cut as a qualifying bid, and the auction was canceled.

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