Barneys New York closes its doors months after declaring bankruptcy
MANHATTAN — Barneys New York, the iconic retailer, has finally closed its doors.
The company filed for bankruptcy in August and spent months shutting down. On Sunday, workers could be seen carrying out fixtures.
Barneys was started Barney Pressman back in 1923 as a small, discount menswear store on 17th Street. Over the next 97 years, the company rocketed to the fashion stratosphere at Madison Avenue and 61st Street where the rent was said to be $30 million a year.
The company was the first to carry Armani, Versace and Comme de Garçons.
Online shopping sounded the death knell for the brick-and-mortar giant.
Fashion licensing company Authentic Brands Group and and financial firm B. Riley bought Barneys for $271.4 million and plan to turn the Madison Avenue flagship into a pop-up experiential site. Fred’s, the iconic restaurant on the 9th floor, will live on
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