Barneys New York

Los Angeles supermarket magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's Yucaipa Cos. and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. Perry Capital is the majority owner. The deal slashes Barneys' debt from $590 million to $50 million. “This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong,” Barneys Chief Executive Mark Lee said in a statement.

Los Angeles supermarket magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's Yucaipa Cos. and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. Perry Capital is the majority owner. The deal slashes Barneys' debt to $50 million from $590 million. "This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong," Barneys Chief Executive Mark Lee said in a statement.

Los Angeles supermarket magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's Yucaipa Cos. and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. Perry Capital is the majority owner. The deal slashes Barneys' debt to $50 million from $590 million. "This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong," Barneys Chief Executive Mark Lee said in a statement.

Los Angeles magnate Ron Burkle went upscale with the latest addition to his portfolio: fashion retailer Barneys New York. Burkle's The Yucaipa Companies and Perry Capital took ownership of Barneys in a debt-restructuring deal, Barneys announced Monday. The deal slashes Barneys debt from $590 million to $50 million. “This agreement provides us with increased free cash flow that will be used to revitalize our stores, invest in Barneys.com and further enhance our customer experience at a time when our operational financial performance is very strong,” Barneys chief executive officer Mark Lee said in a statement.

Each season that the semiannual Barneys New York Warehouse Sale comes to the Los Angeles area, it poses several philosophical questions: Is a $545 dress worth $545 just because it's been marked down from $1,800? No, according to one shopper, who put it back. Is it OK to deprive a toddler of his morning nap so he will snooze in his stroller while his mother shops? Indeed, said one multi-tasking parent. This summer, the Warehouse Sale, held for the last 14 years in a hangar at the Santa Monica Airport, changed mother ships and landed in the Los Angeles Convention Center, provoking another question: Would Westside devotees of high-end fashion leave their comfort zone and venture east?

New York-based Ashkenazy Acquisition Corp. has purchased three properties, including one in Beverly Hills, occupied by Barneys New York for $175 million. Ashkenazy purchased the 450,000 square feet of retail space from Japanese retailer Isetan Co., which took over the Barneys New York real estate after the high-end fashion retailer filed for bankruptcy protection in 1996. Isetan leased the store sites to Barneys New York.

Unless I missed something about Shirley Ritts' history of charitable giving to social causes ("Welcome to Her Matriarchy," Sept. 26), this indulgent piece on an average citizen puts the L.A. Times to shame. Why not profile someone who has contributed $75,000 to a good cause--and not Barneys New York in Beverly Hills? Sorry she's having such a hard time spending. --JUDY CHILNICK Studio City

Japanese Partner Sues Barney's Owners: With its suit, the U.S. subsidiary of the giant Japanese group Isetan Co. seeks to recover $168 million in short-term loans from Robert and Gene Pressman. Isetan of America said it extended the loans to the Barney's Preen affiliate in 1993 and '94 to cover cost overruns and capital needs related to the construction of the Barneys New York stores on Wilshire Boulevard in Beverly Hills and on Madison Avenue in New York.

When it comes to Beverly Hills, Barneys New York figures bigger is better. The upscale Manhattan clothier will open a 7,500-square-foot boutique in Costa Mesa's South Coast Plaza early next year as part of a joint venture with Japanese retailer Isetan for 30 small stores across the country by 1994. But when the retailer swoops into fashionable Beverly Hills in 1993, it will be in quarters more than 10 times as large. Robert L. Pressman, executive vice president of Barneys New York and a grandson of the man who founded the store in 1923, said Wednesday that the company plans a 100,000-square-foot store at 9570-84 Wilshire Boulevard, a block west of Rodeo Drive and across the street from Saks Fifth Avenue.

Lauded by the business community and society mavens for his smarts and savoir-faire, Allen Questrom was once thought to be on the fast track to a political career in California, where he lived on and off during his years running Bullock's department stores. He later took over the helm at Bullock's parent company, Federated, following its bankruptcy, solidifying his position as the retail turnaround king. Background Born April 13, 1940, in Newton, Mass., son of Irving Allen (a machine shop owner)

Although several designers have tried to forge a modern identity for Nina Ricci over the last decade, the French fashion house is still better known for the iconic fragrance L'Air Du Temps (launched in 1948 in the Lalique bottle with glass doves) than for clothes. But the brand's new creative director, Peter Copping, is trying to change that. Copping follows on the heels of Belgian designer Olivier Theyskens, who wowed critics and fashion eccentrics alike with his collections (remember those heel-less fetish shoes?

SALE Barneys New York Warehouse Sale Thursday through Feb. 15: The designer department store takes 50% to 75% off retail prices on clothes, shoes and accessories for men and women. The sale will be held at the Los Angeles Convention Center's South Hall. Major credit cards accepted. 1201 S. Figueroa St., Los Angeles. (310) 777-5700. Opening weekend hours: 8 a.m. to 9 p.m. Thursday and Friday; 9 a.m. to 7 p.m. Saturday; 10 a.m. to 7 p.m. Sunday. For the rest of the sale, hours will be 10 a.m. to 8 p.m. weekdays and 10 a.m. to 7 p.m. weekends and on Feb. 15. www.barneys.

Ron Burkle is known for investing in supermarkets, but the Los Angeles magnate apparently is making a move to go more upscale. Burkle reportedly has made an offer to take a controlling stake in Barneys New York, the storied but troubled luxury retailer. A bid would suggest that the private equity investor is confident about a recovery in the luxury fashion market, which has struggled during the economic downturn. Burkle offered in December to inject $50 million into the chain in a deal that would give him 80% of the company's common stock, the Wall Street Journal reported.

Amsterdam Girard, Electra cruiser bike designed by midcentury artist Alexander Girard Electra Bicycle Co., based in San Diego, introduces the Amsterdam Girard featuring midcentury graphics by Alexander Girard adorning a modernized Dutch city bike. Fenders and an enclosed chain case make it easier to run errands in an Alexander Wang dress. The Tree of Life retails for $749.99 and the Quatrefoil for $799 ($25 rebate for bikes priced over $399.99 if purchased before the end of the year)

It's hard not to think that Carey Mulligan is having a "Queen for a Day" moment. Done up in purple satin, with gold kick-me stilettos, the fresh-faced 24-year-old is dolled up for pictures and perched on an antique table in the presidential suite of the Beverly Wilshire Hotel, a $4,200-a-night, multi-room perch atop the storied hotel. The room isn't hers, even for the night, and neither are the clothes. Practically everything touching her skin is borrowed -- except for the air of giddy excitement.

Walking the floors of the Neiman Marcus, Saks Fifth Avenue, Barneys New York trifecta last week in Beverly Hills, I was struck by how empty the stores felt, empty of shoppers and empty of merchandise. Even with the fall season upon us, there were seating areas and bare walls where there used to be clothing racks, which makes sense because store buyers bought 10% to 30% less than they did the previous season. On the positive side, there's room to see everything. A new price consciousness is becoming noticeable too. More shoe department real estate is devoted to "bridge" lines such as Tory Burch and Elizabeth & James, both of which have great renditions of fall's must-have shoe-boot.

LONDON fashion darling Richard Nicoll is taking some of the starch out of classic British shirt maker Thomas Pink, collaborating on a collection of women's wear that's in stores Thursday. The nine-piece Richard Nicoll for Thomas Pink collection consists of shirtdresses, along with skirts and blouses in a stormy-colored palette of pewter, violet and midnight blue silks. Nicoll, a graduate of famed fashion school Central St. Martins, was a natural to collaborate with Thomas Pink, because of his reputation for riffing on the classic button-down in his own line, sold at Barneys New York and other upscale stores.