The Barneys New York sign is seen in a display window outside the luxury department store in New York, U.S., July 31, 2019. REUTERS/Shannon Stapleton
Barneys struck a deal for $75 million in additional financing with two firms, Gordon Brothers and Hilco Global, to help it keep operating while it navigates bankruptcy court, according to the newspaper report. Barneys for weeks has been searching for a buyer or investor, grappling with a crisis due to a steep hike in rent at its Manhattan flagship store on Madison Avenue to roughly $30 million from $16 million.
However, its Madison Avenue store will stay open, and its nine-floor footprint will also remain the same, the NYT said.
dont you dare die on me sears
My store...
.. must be that 'good' tRump economy
Another brick and mortar retailer bites the dust, taking jobs, tax revenues, & building rent out of the economy with it
You know Manhattan real estate is sorely out of whack when Barney’s can’t afford its rent!! 😳
People finally got tired of wearing all black - except for antifa - and they can’t afford BarneysNY
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