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Bidder lined up for Barneys

A potential buyer is preparing a bid of $220m (£178m) for bankrupt luxury department store operator Barneys New York Inc.

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The company’s lawyer announced it was in negotiations with a potential buyer during a bankruptcy hearing last week, The Wall Street Journal. reports.

A judge extended the deadline for bids until 11 October.

The bidder is reportedly a group of fashion executives led by Sam Ben-Avraham, who founded New York-based menswear store Atrium and co-founded streetwear label Kith.

Barneys filed for bankruptcy in August.

 

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