Barneys Bankruptcy Hits New Phase

Barneys New York’s search for a savior has it back in bankruptcy court today. But the path forward is a complicated one. As the retailer’s lawyers go before U.S. bankruptcy judge Cecelia Morris to try to finalize its $217 million debtor-in-possession financing package from Brigade Capital Management, would-be be suitors are keeping close tabs on the process. The financing is intended to help Barneys keep the lights on and new goods coming in as the company looks for a buyer. But there is still plenty of uncertainty and the retailer had to amend its plans over Labor Day weekend to assuage the concerns of unsecured creditors and prepare for the final hearing on the financing. In the wings are companies that could potentially swoop in and try to buy Barneys, or at least part of it. Intellectual property expert Authentic Brands Group has been courting Barneys since before the bankruptcy filing and is said to still be keen on the firm. Sources told WWD Tuesday that Ares Management, a principle owner of the Neiman Marcus Group, took a preliminary interest in Barneys after it went bankrupt but is currently not pursuing any deal. “They’re not spending any time on Barneys,” said one source, though the

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