Iconic store Barneys files for bankruptcy on rising rents
Barney New York is to shutter most of its stores as rents rise, online retailing grows and walk-in consumers retreat
06 August 2019 - 17:33
New York — Barneys New York filed for bankruptcy protection from creditors on Tuesday and laid out plans to shutter most of its stores after getting squeezed by rising rents and fewer visitors to its luxury fashion boutiques.
The Chapter 11 filing in New York allows the department-store chain to stay open while it seeks to sell a slimmed-down business and negotiate with its landlords...
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