The filing makes the luxury department store the latest victim of the retail upheaval, as shoppers buy online and from brands directly.A pedestrian walks past a window display at Barneys New York department store in New York, U.S., on Thursday, Jan. 22, 2009.Barneys New York, an icon of New York retail, has filed for bankruptcy.
Another trip into bankruptcy was avoided in 2012, when Perry Capital, a hedge fund run by New York financier Richard Perry, took control over the company through a $540 million debt-for-equity swap., citing industry and market headwinds. While the fund has continued to own Barneys, it has not injected more money into it. The brand owned by his wife, New York designer Lisa Perry, continues to sell in its stores, with much of her products exclusive to the retailer.
The flagship is owned by real estate investment company Ashkenazy Acquisition, which in 2001 bought it, as well as the retailer's Beverly Hills, California, store from Isetan.
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