A statement released by Fast Retailing's management says itsproposal "s not subject to financing and can be consummated on anexpedited basis." If Barneys owner Jones Apparel decides to acceptthe Fast Retailing offer, it must pay Istithmar $20.6 million intermination fees, or $22.7 million after July 22.

The Barneys portfolio is made up of flagship stores here,Beverly Hills, Chicago, Boston and Dallas; two regional full-pricestores; 14 CO-OP Barneys New York stores; and 13 outlet stores. Inthe fall the chain is scheduled to open its fifth flagship store,in San Francisco. Jones acquired Barneys in 2004 for $400 million.At that time, the chain operated 21 stores across the country.

Fast Retailing is the owner of about 1,800 specialty stores in12 countries under the names Uniqlo, Theory, Comptoir desCotonniers, and Princesse tam.tam and others. Uniqlo has 750 storesin Japan, other parts of Asia, North America and Europe.