Leaked memo from Barneys CEO says there's only a 'small chance' the company gets saved

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In a leaked memo to employees, Barneys CEO Daniella Vitale said the chance of reaching an 'alternative solution' to prevent liquidation is 'small.'

In a leaked memo, Barneys CEO Daniella Vitale confirmed to employees that the bankruptcy court has approved Barneys' sale to Authentic Brands Groups, a move that would effectively shutter all Barneys stores. Vitale said that while there's a limited window of time for a bidder to rise up and reach an"alternative solution" that would prevent liquidation, the chance of that happening is"small.

In a leaked memo, Barneys CEO Daniella Vitale confirmed to employees that the bankruptcy court has approved Barneys' sale to Authentic Brands Groups, a move that would effectively shutter all Barneys stores. Vitale said that while there's a limited window of time for a bidder to rise up and reach an"alternative solution" that would prevent liquidation, the chance of that happening is"small.

 

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