Prepare yourself accordingly: Your heart may just break over this latest bit of retail news. In July, Business of Fashion reported Barneys New York, one of Manhattan's most iconic department stores, could be preparing to file for bankruptcy. According to BoF, Barneys was struggling with high rents
and changing consumer tastes. Not to mention Barneys had failed to adapt to the changing landscape of retail, racially profiling Black customers and carrying limited sizes despite 67% of women in the U.S. wearing a size 14 or larger.
“For more than 90 years, Barneys New York has been an iconic luxury specialty retailer, renowned for its edit, strong point of view, creativity and representation of the world’s best designers and brands,” said Daniella Vitale, Chief Executive Officer & President said via press release. “Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand.
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