Lenders Take the Keys to Barneys Closet

Paul Basta, Joshua Sussberg, Leonard Klingbaum, Brian Schartz and Jason Chien advised Barneys in its out-of-court restructuring.

"Barneys New York Inc.'s largest lenders, Perry Capital and Yucaipa Cos., are its new owners after agreeing to a months-long, out-of-court restructuring. The debt-for-equity swap, which the retailer announced Monday, May 7, removes $540 million of Barneys' debt, leaving only $50 million of debt on its balance sheet."

This article appeared in its entirety in the May 8, 2012 edition of The Deal.