Barneys New York, the luxury-goods retailer controlled by a Dubai investment company, said it’s in talks with lenders to improve its balance sheet.
“Barneys New York is actively engaged in discussions with the company’s small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success,” the company said today in an e- mailed statement. “We are focused on resolving this matter as expeditiously as possible, and it will remain business as usual at Barneys New York.”
Since the recession, Barneys has suffered from the absence of so-called aspirational shoppers, said Candace Corlett, president of WSL Strategic Retail, a New York retail consulting firm. Chief Executive Officer Mark Lee has made no discernible changes to the format in his 18-month tenure, she said.
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