Barneys New York is filing for Chapter 11 bankruptcy protection, the latest retailer to buckle as shoppers move online and real estate costs soar.
The luxury clothier is closing in Chicago, Las Vegas and Seattle. Twelve concept and warehouse locations will also close, and the company said Tuesday it was reviewing other store leases.
Stores on Madison Avenue store in New York, Beverly Hills, San Francisco and in Boston will remain open, as well as two warehouse locations in New York and California.The number of retail stores closed in the U.S. this year has already surpassed the total number in 2018, according to Coresight Research, which expects 12,000 will be shuttered in 2019.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Barneys New York Has Filed For BankruptcyPrepare 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
Baca lebih lajut »
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.'
Baca lebih lajut »
Luxury department store Barneys files for bankruptcy: New York TimesU.S. luxury department store chain Barneys New York Inc filed for Chapter 11 ban...
Baca lebih lajut »
Barneys New York Has Filed For BankruptcyThe retailer maintains it will keep its five flagship locations in New York, San Francisco, Los Angeles, and Boston, as well as its online stores.
Baca lebih lajut »
Previously Unseen Photos of Andy Warhol's 1960s New YorkTake a look back at the days Nico, Brigid Berlin, and more of Warhol's Superstars spent holed up in the Chelsea hotel.
Baca lebih lajut »