Barney’s Chapter 11


Lowenstein Sandler is representing investment bank B. Riley Financial and its affiliate, Great American Group, which specializes in retail asset disposition, in the Chapter 11 bankruptcy of Barney’s, the upscale luxury department store chain. At the outset of the case, B. Riley affiliates provided a $40 million inventory consignment facility and part of a $217 million loan that enabled Barney’s to continue its operations in Chapter 11.

On October 16, 2019, Barney’s selected a $271.4 million bid for all of the retailer’s assets by a joint venture between B. Riley and Authentic Brands Group as the stalking-horse bid in a sale process that some are calling a battle for the future of retail. Pursuant to the bid, Authentic will acquire the Barney’s brand and related intellectual property, while B. Riley affiliates will sell the retailer’s other assets. Chief Judge Cecelia G. Morris of the U.S. Bankruptcy Court for the Southern District of New York is expected to issue a ruling in the sale process, which will include an auction if Barney’s receives competing bids, on October 24, 2019.

Lowenstein Sandler is representing investment bank B. Riley Financial and its affiliate, Great American Group with a team including Kenneth A. Rosen (Picture) and Andrew Behlmann.

Involved fees earner: Andrew David Behlmann – Lowenstein Sandler LLP; Kenneth Rosen – Lowenstein Sandler LLP;

Law Firms: Lowenstein Sandler LLP;

Clients: B. Riley Financial Inc.; Great American Group;