Israeli businessman Samuel Ben-Avraham said on Wednesday he has submitted an offer for Barneys New York, challenging a $271 million bid for the bankrupt luxury department store from Authentic Brands Group.
The Canadian owner of Saks Fifth Avenue announced on Monday that, following an extensive review process, it has entered into a definitive agreement with a group of shareholders to take the company private.
U.S. luxury department-store chain Barneys New York Inc has reached an agreement to sell its assets to brand developer Authentic Brands Group and investment bank B. Riley Financial Inc, a court document showed.
U.S. luxury department-store chain Barneys New York is nearing a roughly $270 million deal with brand developer Authentic Brands Group that could lead to Barneys shops opening in Saks Fifth Avenue stores.
Asos has had its challenges in recent periods and its share price has suffered, but the shares rose on Wednesday morning after the company said it has beefed up its board with some key non-exec director appointments.
The retail chain announced on Tuesday that it has completed the sale of its remaining European real estate and joint ventures to Signa Retail, as the company seeks to focus its attention on its North American operations.
Canadian department store operator Hudson’s Bay Co reported a wider second-quarter loss on Thursday, hurt by several shuttered stores, heavy discounting and declining sales at the retailer’s namesake brand.