Saks, Isetan Renew Talks to Buy Barney’s

Saks Holdings Inc. and Isetan Co. have revived talks on a joint bid for upscale department store chain Barney’s Inc., according to two people familiar with the retailers’ plans. Saks and Isetan will take at least several weeks to decide on a bid for New York-based Barney’s, which has been in Chapter 11 bankruptcy proceedings since January 1996, the sources said. Barney’s, Saks and Isetan declined to comment. Isetan and New York-based Saks began working on a joint offer for Barney’s last summer. They let the cooperation agreement expire after Barney’s creditors objected to the partnership. Isetan, the Japanese retailer that financed Barney’s three biggest stores, is in a dispute with Barney’s over its status in bankruptcy proceedings.