Barneys's Sister Store Loehmann's Files For Chapter 11 Is Barneys Next

Loehmann’s, the upscale discount retailer owned by the investment firm leg of Dubai’s Istithmar World, filed for Chapter 11 bankruptcy protection yesterday. Istithmar, which also owns Barneys, bought Loehmann’s for $300 million in 2006.

The bankruptcy is the latest for Loehmann's owner Istithmar, the Dubai-based firm whose former CEO David Jackson became notorious for shelling out lavish sums in 2006 and 2007 for investments like Barneys and the Union Square W Hotel.


Post a Comment

Related Posts Plugin for WordPress, Blogger...