Ben-Avraham Seeking Industry’s Help to Save Barneys

Sam Ben-Avraham, the Project and Liberty Fairs founder, tossed a Hail Mary pass Sunday night, flooding the in-boxes of fashion industry executives with a personal plea to “Save Barneys” as he mounted a last-ditch effort to have a bankruptcy court prefer his potential offer over the stalking horse bid by Authentic Brands Group.
In an open letter, Ben-Avraham wrote: “In a few short days we are at risk of losing a cultural institution that has been an anchor point for the city for almost a century. Its impact on culture cannot be understated. The brand as we know it today will disappear from our lives if it becomes an intellectual property license operation. Its unique identity, its point of view, its cutting edge agenda will be lost.”
Without naming names, he said that he and his “team believe we can do better.” He said they will “bring back the brand you’ve come to know and love and make it commercially viable for the future.”
He said his partners “have a solution that doesn’t involve mass layoffs or store closures.” He did not provide details of that plan, however.
The letter added that he will transform the business, “something other competing bidders are not interested

Follow WWD on Twitter or become a fan on Facebook.

Read More…

Source link


Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Rachel Meadows

Rachel Meadows

Trending topics news writer who enjoys cooking, walking her dog and travel.

Related Posts