Barneys New York has officially sold to Authentic Brands Group. Barneys CEO Daniella Vitale stepped down following the sale.
In August, Barneys New York announced that the company filed for bankruptcy. Kith investor Sam Ben-Avraham launched a Save Barneys NY campaign and reportedly bid $260 million to keep the retailer open but later withdrew his bid. On Thursday, October 31, Barneys' ongoing bankruptcy saga ended after a judge approved a deal to sell Barneys to Authentic Brands Group and B. Riley Financial Inc. for $271.
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