Barneys Files For Bankruptcy

2024 Author: Steven Freeman | [email protected]. Last modified: 2023-12-17 08:15

The past few years have been very difficult for many stores that have been part of American culture for many years and have had to disappear. Financial problems have flooded many companies that had no choice but to sell the majority of their shares, file for bankruptcy and incidentally close dozens of stores around the country. Although in recent months we have seen a decline in problems and store closings, sadly the bad news continues to come. This time it was Barneys New York, one of the most prestigious stores in the country and home to pieces by the world's most renowned designers.

The store, which was founded nearly a century ago, has just filed for bankruptcy after efforts to find financial aid have been in vain. As reported by WWD, the store chain owes money to more than 5,000 brands, including Gucci, Prada, Yves Saint Laurent and Céline, among others.

The company plans to close 15 of its stores around the country, but it is not yet known if among them is its iconic establishment in New York City.

On the other hand, The Wall Street Journal assured that the company is also for sale. Of course, although many Twitter users went crazy with the news, there is no need to worry yet because some establishments will continue to be open as well as the website. In fact, Barneys.com is currently up to 70% off. So what happens is the inevitable, this is your chance to buy a designer piece.