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In Brief: Barney's

This article was originally published in The Rose Sheet

Executive Summary

Barney's: Will pay Japanese partner Isetan of America $167 mil. plus interest and attorneys' fees, according to a March 25 New York Supreme Court ruling. The payment will cover a series of 11 loans totaling $177.7 mil., which Isetan gave the upper-end retailer for the construction of three Barney's stores. Isetan filed suit against the department store two days after Barney's rejected a $240 mil. acquisition bid by Hong Kong-based retailer Dickson Concepts. Barney's filed for Chapter 11 protection Jan. 10, 1996 ("The Rose Sheet" Feb. 5, 1996, In Brief). In the bankruptcy filing, Barney's reported $381.5 mil. in assets and $361.4 mil. in liabilities...
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