Positive news for Barneys New York as they move closer to a deal with a potential financial backer. Partner Douglas Hand provides thoughts in this Women's Wear Daily Article.
“You’re rooting for there to be a viable bid,” Hand said. That’s because a sale of the whole business will garner more money to pay back creditors than the fire sale of a liquidation. It would also maintain Barneys and keep open the possibility of future orders and a continuing business.
Even so, vendors who were caught up in the bankruptcy can only hope to see some portion of the money they’re owed. “It’s going to be pennies on the dollar no matter what — or nothing,” Hand said.
You can read more and access the article online using this link: Barneys New York Moves Closer to Potential Deal
Positive news for Barneys New York as they move closer to a deal with a potential financial backer. Partner Douglas Hand provides thoughts in this Women's Wear Daily Article.
“You’re rooting for there to be a viable bid,” Hand said. That’s because a sale of the whole business will garner more money to pay back creditors than the fire sale of a liquidation. It would also maintain Barneys and keep open the possibility of future orders and a continuing business.
Even so, vendors who were caught up in the bankruptcy can only hope to see some portion of the money they’re owed. “It’s going to be pennies on the dollar no matter what — or nothing,” Hand said.
You can read more and access the article online using this link: Barneys New York Moves Closer to Potential Deal
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