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Barneys Auction Canceled as #SaveBarneys Bid Falls Short

  • Authentic Brands Group remains as the only formal bidder
  • Retail icon plans to keep working toward other offers
Barneys New York Landlord Gazit Globe Ltd. Founder Chaim Katzman At Reopened Chelsea Location

Photographer: Victor J. Blue/Bloomberg

A planned auction for bankrupt retail icon Barneys New York Inc. next week was canceled after a consortium led by entrepreneur Sam Ben-Avraham failed to place a qualifying bid.

Authentic Brands Group LLC, currently the only qualified bidder for Barneys, said in a statement that it expects to complete its purchase of Barneys intellectual property on Oct. 31, subject to customary closing procedures.