Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar
NEW YORK — .
Barneys' landlord in Manhattan doubled the rent of its flagship store to nearly $30 million earlier this year. Retailers are fighting to maintain sales and they're not getting much relief on leases, creating a financial vice that is squeezing even iconic brands like Barneys New York. Barneys' roots date back to 1923, when Barney Pressman pawned his wife's engagement ring and used the cash to open a 500 square foot men's discount clothing store on Seventh Ave. and 17th St. in Manhattan.
United States Latest News, United States 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.'
Read more »
Luxury department store Barneys files for bankruptcy: New York TimesU.S. luxury department store chain Barneys New York Inc filed for Chapter 11 ban...
Read more »
Murdoch's New York Post urges Trump to ban assault weaponsOne of President Trump's favorite newspapers, the New York Post, is calling for 'the return of an assault-weapons ban.'
Read more »
Trevor Noah, Nicole Byer, Stephen Colbert, Others to Headline 2019 New York Comedy FestivalTrevor Noah (Trevornoah), Nicole Byer (nicolebyer), Stephen Colbert (StephenAtHome), more to headline 2019 New York Comedy Festival (nycomedyfest):
Read more »
Murdoch-Owned New York Post To Trump: Ban Assault Weapons Now"Mr. President, do something — help America live without fear," the tabloid&39;s editorial board wrote.
Read more »
Calling All Ultra-Runners: One Block in New York City Promises TranscendenceAthletes from around the world come to a Queens neighborhood to run 3,100 miles around the same block. They have 52 days to get to the finish line.
Read more »