Barneys New York Inc. could get a new life inside Saks Fifth Avenue stores if a deal to buy the luxury retailer out of bankruptcy succeeds, WSJ Pro Bankruptcy reported. Authentic Brands Group LLC, owner of brands like Nine West and Aéropostale, is preparing a nearly $270 million bid for Barneys with plans to license the brand to Saks, the people said. Saks is in discussions to open Barneys departments in some of its stores and take over Barneys’ website. Authentic Brands, meanwhile, is in talks with Barneys landlords about keeping some stores open. Barneys has been trying to stave off liquidation since it filed for bankruptcy protection in August. At a bankruptcy court hearing on Friday, a Barneys lawyer said that the company needed more time to firm up a potential deal with a lead bidder that would keep the luxury retail chain alive. The new deadline to clinch that offer was set for today. Any bid approved today could still be topped in a bankruptcy auction later this month.
