Barneys Files for Bankruptcy, Plans to Close Most Stores

Luxury retailer has secured $75 million in funding to keep some stores open and give it time to find a buyer for the companyBarneys New York Inc. filed for bankruptcy protection and reached an agreement with lenders for a financing package to give the luxury retailer time to find a buyer for the company.

In a news release early Tuesday, Barneys, which operates 13 department stores and nine warehouse stores, said that as part of the chapter 11 process it would shut most of its locations.

A little piece of my heart just sank .. But it has more layers to their closure! If bergdorf goes I think I will forever be heartbroken! These are symbols of the fashion world and just iconic!

Is it chapter 7 or Chapter 11 Bankruptcy?

I seen this coming, I’m honestly shocked it didn’t happen sooner.

No big deal trump filed for bankruptcy 4 times and now he’s the greatest president of all time so really the possibilities are endless for them now

Sad!

Cautionary tale for many businesses’. Regardless of inconic brand and loyal customers - dealing with digital distruption, scale players and rising urban real estate costs is today’s reality

Never thought that I’d ever see this happen...!

100k4Erick FreeErickKabendera Tanzania

What is that, like one handbag at Barneys?

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Barneys, a nearly century-old icon of New York retail, files for bankruptcy'The entire industry is in survival mode,' Barneys CEO Daniella Vitale told employees earlier this year, according to a recording obtained by CNBC. 'The model is not working, it's not working for us, it's not working for Saks, it's not working for Nordstrom.' But I thought this high-end weed merch was gonna save them They were outrageously expensive even for NYC
Source: CNBC - 🏆 12. / 72 Read more »

iPic Entertainment, luxury cinema pioneer, files for bankruptcy as rivals move iniPic Entertainment was one of the first companies to popularize dine-in luxury movie theaters, a concept that has since gone mainstream. I was never comfortable trying these dining cinemas- who wants to order popcorn through a waiter? Or eat your food in the dark? Or hear the clanging of utensils as you’re watching a movie? They seems to take the joy out of watching a movie and going out to dinner Pasadena
Source: latimes - 🏆 11. / 82 Read more »

Luxury Cinema Chain iPic Files for Chapter 11 Bankruptcy, Eyes SaleThe company initiated bankruptcy court proceedings, saying it would 'seek approval of either a sale or a reorganization plan and emerge with a healthy balance sheet and new capital structure.' ProSyndicate Looks like iPic is closing! Damn I love ipic Nooooo!
Source: THR - 🏆 411. / 53 Read more »