Ron Burkle Is Trying to Buy Barneys New York

Beverly Hills billionaire Ron Burkle wants to purchase Barneys New York. Reports have shown that he has been trying to buy up Barneys’ debt and plants to spend an extra $50 million through his Yucaipa Cos. investment firm. This move would ultimately grant him a controlling state in the department stores, about 80 percent of Barneys’ common shares. Burkle’s interest in Barneys is reportedly a sign that “the company and battered luxury retail sector have seen the worst of the recession.” We can only hope that he adds this to his resume of company investments that he improves, as he is known for doing so.