Barneys New York secures exclusivity extension after submitting plan

By Caroline Salls

Pittsburgh, Nov. 25 – Barneys New York Inc. received an extension of its exclusive periods for filing and soliciting votes on a Chapter 11 plan, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of New York.

The company’s exclusive plan-filing period was extended for 120 days through April 2 and the solicitation period through June 1, 2020.

Barneys said the sale of its assets closed on Nov. 1.

“The debtors now intend to bring these Chapter 11 cases to conclusion in an orderly, efficient manner,” the motion said.

The company said the wind-down process and transition of some operations to the purchasers likely will continue into the first quarter of 2020.

Meanwhile, Barneys said it has begun developing the terms of a Chapter 11 plan that could serve as a vehicle to conclude the cases. A plan was filed on Nov. 15.

Barneys is a New York-based luxury specialty retailer. The company filed bankruptcy on Aug. 6 under Chapter 11 case number 19-36300.

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