Macy's (M) rejected a $5.8 billion offer from investment firms Arkhouse Management and Brigade Capital Management, on the grounds that the they "failed to provide evidence of a viable financing plan." With Macy's future uncertain, questions around what sort of impacts this move will have for the rest of its business and relationships with other businesses, arise. Jan Kniffen, J Rogers Kniffen WorldWide CEO, joins the Live show with Yahoo Finance Reporter Brooke DiPalma to discuss Macy's rejection of a buyout offer and the impact it will have on its wholesale partners. Kniffen affirms: "Their concern is that Macy's continues an ongoing operating company, that continues to do what it has been doing, because they'll continue to sell Macy's, that's not going to be the issue. They want to make sure there's plenty of stores there to drive that product out... What they wouldn't want to see is a Sears event. It gets bought out and then everything goes away. They don't want to see that. They don't have other places to go with it." For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live. Editor's note: This article was written by Nicholas Jacobino