BARNEYS PLANS NINTH OUTLET
NEW YORK — Barneys New York will open an outlet store outside Phoenix next month, pending bankruptcy court approval.
The 7,641-square-foot outlet, set to bow on Dec. 12, is at the Arizona Factory Shops, 25 miles north of Phoenix. The unit would be Barneys’ ninth outlet store in addition to its 13 retail stores.
In court papers, Barneys said the creditors committee has voted to support its request for the store. Barneys opened its eighth outlet last month in the Clinton Crossing Factory Outlet Center, Clinton, Conn.
In other news, the creditors committee received court approval to hire Peter J. Solomon Co., a New York investment banker, as its financial advisor.
Solomon, according to court papers, is expected to monitor and support the efforts of The Blackstone Group, Barneys’ financial advisor, under a contract that calls for a monthly advisory fee of $90,000.
Solomon worked as an adviser in the bankruptcy cases of R.H. Macy & Co., Federated Department Stores, Edison Bros. Stores and Discovery Zone.