Barneys New York is filing for bankruptcy, the latest retailer to buckle as shoppers move online and real estate costs soar.
Barneys' landlord in Manhattan doubled the rent of its flagship store to nearly $30 million earlier this year.
Retailers are fighting to maintain sales and they're not getting much relief on leases, creating a financial vice that is squeezing even iconic brands like Barneys New York. Barneys' roots date back to 1923 when Barney Pressman pawned his wife's engagement ring and used the cash to open a 500 square foot men's discount clothing store on Seventh Ave. and 17th St. in Manhattan.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Barneys seeks bankruptcy protection, closes most storesBarneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar. The iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but its secured $75 million in financing
Read more »
Luxury department store Barneys files for bankruptcy protectionU.S. luxury department store chain Barneys New York Inc filed for Chapter 11 ban...
Read more »
Barneys Nears Bankruptcy Filing With Plans to Close Most StoresBarneys is preparing to file for bankruptcy and nearing an agreement with lenders for a financing package that would give the luxury retailer time to find a buyer, according to people familiar with the matter.
Read more »
Barneys Files for Bankruptcy, Plans to Close Most StoresThe luxury retailer filed for bankruptcy protection and reached an agreement for a financing package to give the luxury retailer time to find a buyer, as the company plans to close several stores.
Read more »
Luxury department store Barneys files for bankruptcy: New York TimesU.S. luxury department store chain Barneys New York Inc filed for Chapter 11 ban...
Read more »
What to watch today: Dow seeks relief, China's currency shot, and Barneys files for bankruptcyU.S. stock futures point to a higher Wall Street open ahead of Tuesday's session after Dow futures fell more than 600 points in premarket trading last night.
Read more »