Barneys New York Looking to Restructure
August 12, 2009- Share:
Barneys New York, a portfolio company of Istithmar, has hired Perella Weinberg Partners to help it restructure its $500 million of debt. It is possible that the company's major bondholders, which include Citigroup and Perry Capital Partners, could swap some of their debt for an equity stake in the company. Istithmar had previously rebuffed requests by bondholders to restructure the company's debt, but its continued decline in sales and the departure of its longtime CFO appear to have caused the Dubai PE firm to rethink its strategy.
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