Filed Under: Business Blitz Barneys

Barneys Seeks New Ownership

barneys_logo.jpg

Barneys is thinking over either debt restructuring or filing bankruptcy to regain control of the company from Dubai's Istithmar, the company that purchased Barneys for $942 million in 2007.

With the new ownership came considerable debt, and now that sales are down, Barneys is seeking a ways to be rid of some of their debt.

Canada's Holt Renfrew reached out to Perry Capital, the very hedge fund that helped finance Istithmar's purchase of Barneys, about a joint offer to control Barneys.

No decisions have been made, but if it eases the department store's debt, good for them!

We'll buy you, Barneys!

Is $3.99 enough???

Posted: September 3, 2009 at 5:30 pm

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