Rumors of suitors for Barneys continue to circulate in market; Limited, Holt Renfrew among named.(retailer Barneys New York is looking for partners to finance its bankruptcy reorganization)

Daily News Record, May, 1996 by Moin, David; Wilner, Rich

Barneys New York is looking for partners to finance its bankruptcy reorganization plan and increase the payout to its creditors. The Pressman family, Barneys' owner, is considering a partner who could help the retailer improve its profitability and let the Pressmans retain control of the company. Barneys' creditors might consider a stock offer or merger with another retailer to help the retailer reorganize.

NEW YORK -- Who is Barneys New York willing to dance with?

The bankrupt retailer, which has been considering potential partners to fund a reorganization plan, has reportedly been in contact with several possible investors, either directly or indirectly, among them The Limited Inc. and Holt Renfrew of Canada.

Sources cautioned, however, that any...

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