Wells Fargo Capital Finance arranged and agented a new five-year $200 million senior secured, asset-based revolving credit facility as part of a recapitalization for Barneys New York. The facility will be used for ongoing working capital purposes.

Originally founded as a men’s retailer in 1923, Barneys has grown to be known for its high style for women and men and today has 37 stores across the U.S and a large, growing e-commerce business. The famous New York-based retailer recently completed a debt for equity swap and reached an agreement with Perry Capital, its largest lender, as well as The Yucaipa Companies and its former owner Istithmar World, to significantly reduce its debt and improve the capital structure. As a result, Perry Capital became the majority owner of Barneys New York.

"We are extremely proud to be chosen by the management team at Barneys New York and Perry Capital to manage and lead this new facility," said Keith Vercauteren, head of the Retail Finance Division at Wells Fargo Capital Finance. "Our dedication to retailers has never been stronger. Because of that dedication combined with our retail industry expertise, we believe we are the right lender to help Barneys navigate through the challenging retail environment."