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Barneys seeks bankruptcy protection, closes most stores

Aug 06, 2019 - Associated Press

NEW YORK (AP) - 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 iconic clothier founded almost a century ago will keep the doors open at its 10-story Madison Avenue store, but its secured $75 million in financing to pay employees and vendors as it seeks a buyer.

Stores in Chicago, Las Vegas and Seattle will close. Twelve concept and warehouse locations will also close and the compan...