Bankruptcy judge approves sale of Barneys assets
5 years, 2 months ago

Bankruptcy judge approves sale of Barneys assets

Associated Press  

NEW YORK — Barneys New York, the iconic luxury chain, says a bankruptcy judge has approved the sale of its assets to fashion licensing company Authentic Brands Group. Barneys New York filed for Chapter 11 bankruptcy protection in August, the latest retailer to buckle as shoppers move online. Barneys, controlled by New York hedge fund Perry Capital, listed more than $100 million in debt and more than $100 million in assets in its bankruptcy filing in the Southern District of New York. Steve Sadove, former CEO and chairman of Saks and now senior adviser for MasterCard, says that Barneys New York didn’t keep up with the changing spending habits.

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Barneys New York officially being sold piece by piece
5 years, 2 months ago

Barneys New York officially being sold piece by piece

Associated Press  

NEW YORK — Barneys New York, which once reigned in the world of high fashion, is now being sold piece by piece. Authentic Brands says it will license the Barney’s New York name to Saks Fifth Avenue with plans to reboot Barneys New York on Saks Fifth Avenue’s fifth floor. Saks will also launch Barneys New York shops in various …

Barneys seeks bankruptcy protection, closes most stores
5 years, 5 months ago

Barneys seeks bankruptcy protection, closes most stores

Associated Press  

NEW YORK — Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online. Barneys’ Manhattan landlord doubled the rent at its flagship store on Madison Avenue to nearly $30 million this year. “Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment …

Barneys files for bankruptcy
5 years, 5 months ago

Barneys files for bankruptcy

CNN  

New York CNN Business — Barneys, an icon of America’s luxury clothing world for decades, has filed for bankruptcy. “Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” Barneys CEO Daniella Vitale said in a statement. One notable store …

Commentary: Barneys bankruptcy proves luxury retailers aren’t immune to industry turmoil
5 years, 5 months ago

Commentary: Barneys bankruptcy proves luxury retailers aren’t immune to industry turmoil

LA Times  

Barneys stores in New York City, Beverly Hills, San Francisco and Boston will remain open, as well as two Warehouse locations. Barneys isn’t a particularly large chain: Saks Fifth Avenue and Neiman Marcus are close competitors that have more stores. However, thanks to paparazzi photos of Kim Kardashian and other celebrities stopping by its stores, as well as the reputation …

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