Retail

Barneys’ savior Authentic Brands has about $1 billion to buy more troubled retailers

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He helped save Barney’s from liquidation last year and plucked retailers Brooks Brothers and denim apparel maker Lucky Brand out of bankruptcy this month — just warmups for Jamie Salter.

“I’m in the first inning,” said Salter, the 57-year-old chief executive officer of the apparel licensing firm Authentic Brands Group. 

Salter may not be a household name, but he may be one of the industry’s best chances of saving long-loved brands from joining Woolworth and Blockbuster as once-great also-rans. Plenty of retailers were already teetering on the edge of solvency before the coronavirus pandemic hit, accelerating the 44 retail bankruptcies and more than 6,000 store closures already…



Source cnbc.com

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