Barneys is preparing to file for bankruptcy, with plans to close stores and secure financing while it seeks a buyer
Barneys New York Inc. is preparing to file for bankruptcy and nearing an agreement with lenders for a financing package that would give the luxury retailer time to find a buyer, according to people familiar with the matter.
The restructuring plan under discussion calls for Barneys, which operates 13 department stores and nine warehouse stores, to immediately shut down most of its locations and look for a buyer for seven core stores, the people said. Barneys could seek court protection as soon as Monday evening, the people...
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