Statement from Istithmar World Capital
“Istithmar World Capital has provided a significant level of additional capital to support Barneys New York. Working closely with management, we believe that this amount allows the company financial flexibility to work with the company’s major vendors and financial intermediaries. The plan enables the company to meet its 2009 schedule of shipments. We will continue to monitor the company’s performance but we are confident that no further injection is needed at this time.”
