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Joele Frank is handling the bankruptcy of Barneys New York, the luxury retailer that fell victim to the changing shopping environment and high rents relative to market demand.
The 96-year-old company, which employs 2,300 people, plans to keep its Manhattan, Boston, San Francisco and Beverly Hills outlets open and shutter stores in Chicago, Las Vegas and Seattle.
CEO Daniella Vitale said the Chapter 11 reorganization will provide Barneys the breathing room needed to conduct a sale process, review current leases and optimize operations.
She promised that the partnerships and relationships with the “world’s best designers and brands,” customers and employees will continue for “many years to come” as the company executes its “forward thinking vision of what retail should look like today.”
Meghan Repko, Dan Moore and Jacob Silber of Joele Frank Wilkinson Brimmer Katcher handle Barneys.
Joele Frank represents LXP Industrial Trust as the logistics giant agrees to be acquired by Brookfield Asset Management and the Canada Pension Plan Investment Trust for $5.2B in cash.
Jenn Kettnich, who has more than 15 years of financial communications experience, has joined Liftoff Mobile as VP-investor relations following completion of its recent IPO.
Joele Frank handles Crinetics Pharmaceuticals as the specialist for treatments for endocrine diseases agrees to get acquired by Vertex Pharmaceuticals in a deal pegged at $8.8B.
Teneo represents Honeywell spin-off Solstice Advanced Materials as it buys Collected Strategies client Element Solutions in a deal pegged at $14.5B.
Dallas-based Throughline Global Advisors advised Principal Mineral as it acquired Isola Group, maker of copper-clad laminates used in printed circuit boards.
