A bidding war may be about to begin for Barneys New York, the beleaguered luxury department store chain that declared bankruptcy in August and became a cautionary tale of retail hubris and the death of shopping as we once knew it, the New York Times reported. One buyer could mean the liquidation of all of the retailer’s stores, while another could preserve at least some of the Barneys that shoppers know today. Authentic Brands Group, the owner of over 50 brands including Nine West, Nautica and Hickey Freeman, yesterday made a formal $264 million offer for Barneys that was accepted by the store’s lenders. That began an auction process that will take place over the next week. At least one other bidder has declared intent: a consortium of New York investors led by Sam Ben-Avraham, co-founder of streetwear brand Kith and owner of a group of trade shows. Bankruptcy Judge Cecelia G. Morris will issue her ruling on the bids on Oct. 24.
