Farfetch, the online platform that sells luxury fashion from stores around the world, is disputing a story the New York Post ran yesterday claiming that Barneys New York, which filed for Chapter 11 earlier this month, is in “advanced talks” with Farfetch on an impending sale.
In a statement published on its website this morning, Farfetch wrote, “The story is incorrect—Farfetch is not acquiring Barneys New York.”
The Post story was full of specifics from “sources”—including the tibdit that Farfetch has “convinced the landlord of Barneys’ crown jewel location on Madison Avenue to slash the rent and take back 40% of the 10-story store.”
Considering the breadth of its details, it does seem likely that Farfetch and Barneys were perhaps at one time in talks and maybe abandoned plans for a sale. But there’s no telling, and a call seeking comment from Barneys New York for this article was not returned.
The Post story did Farfetch a favor this morning by boosting its stock: The London-based retailer’s shares on the New York Stock Exchange rose 3.2% to $10.05 at 9:45 a.m. ET.
Farfetch was founded by Portuguese businessman José Neves and recently acquired specialty sneaker retailer Stadium Good and streetwear brand New Guards Group, which owns cult designer fashion brand Off-White.
Barneys secured a $75 million loan in bankruptcy, which gives the embattled retailer until October to find a buyer.
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