Can You Imagine? Destroying the fashion trinity? I love Barney’s and its a New York City Staple! Barney’s, Bloomy’s and Bergdorf’s create my perfect NYC love triangle (Get it?? check a map… and you will understand what I mean!) There were rumors that Barney’s was going bankrupt, and we were all afraid it would shut down.. But its not… Thank Goodness!!!
A Company Spokes Person says:
“Barneys New York is actively engaged in discussions with the company’s small group of lenders to improve its balance sheet and further position Barneys New York for sustainable, long-term growth and success. We are focused on resolving this matter as expeditiously as possible, and it will remain business as usual at Barneys New York.”
“…. Barney’s Inc., the fashion retail chain, won court approval yesterday for its reorganization plan, bringing to a close nearly three years of bankruptcy proceedings.
United States Bankruptcy Judge James Garrity approved the plan, which will inject $68.8 million of new capital into the business and hand family control to creditors. The company’s biggest unsecured creditors include Whippoorwill Associates Inc. and Bay Harbour Management L.C…” Click Here to Read the rest of the story
So, what’s your opinion? Do you think Luxury is Tanking? How long do you think Barney’s could hold on for?