Adjunct professor and associate director of the Fashion Law Institute at Fordham Law, Jeff Trexler, was quoted in a Hollywood Reporter article about the sale of Barneys New York Inc. to Authentic Brands Group LLC.
Responding to news of the probable demise of Barneys New York and the foreseen closing of the Madison Avenue and Beverly Hills stores, Hollywood stylist Jessica Paster (known for her work with Emily Blunt, Olivia Munn and Hilary Duff) told The Hollywood Reporter on Thursday that the announcement was “heartbreaking,” saying, “I don’t want it to go and, if I had the money, I would buy it myself.”
Paster’s reaction was typical of Hollywood’s styling and costume design community in the wake of Thursday morning’s approval by a bankruptcy judge for the sale of the famed retailer’s assets for $217 million to fashion licensing company Authentic Brands Group LLC. Under the deal, Barneys New York will likely close its five remaining stores, and the brand name may be licensed to Saks Fifth Avenue.
Attorney Jeff Trexler, associate director of the Fashion Law Institute at New York’s Fordham University, tweeted afterwards, “There was a palpable sense of loss, even more so than in a typical bankruptcy case. And after the judge left the room, the stunned silence gave way to quiet sobs.”