Barneys Skirts Bankruptcy
- 8:04 PM — May 7 —
- Source: Wall Street Journal - US News
High-end fashion retailer Barneys New York has reached a deal to restructure its debts and stay out of bankruptcy court at the price of handing ownership to creditors Perry Capital and Ronald Burkle's Yucaipa Cos. The deal, disclosed Monday afternoon, reduces Barneys' long-term debt to $50 million from $590 million by converting debt held by Perry and Mr. Burkle's investment firm to equity. Read More
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