Barneys seeks bankruptcy protection, closes most stores
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...