Barneys New York, one of New York’s temples of high fashion, has hired restructuring advisers to help the retailer deal with $200 million in debt maturing this fall, people briefed on the matter said Wednesday.
The company has long been known as one of the world’s top purveyors of fashion, having introduced Americans to Giorgio Armani more than three decades ago. But it has labored for years to emerge from a hefty debt load taken on in a 2007 leveraged buyout.
Barneys hired the law firm Kirkland & Ellis, one of the top law firms for restructuring work, in recent weeks, said the people, who were not authorized to speak publicly. Kirkland joins a coterie that includes longtime Barneys adviser Perella Weinberg Partners and the consulting firm AlixPartners.
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