Barneys New York Permanently Closing Ahead Of Bankruptcy

Write Comment

Barneys New York Permanently Closing Ahead Of Bankruptcy

Celebrity fashion-retailer Barneys New York is permanently closing all of its stores on Sunday, February 23, ahead of finalizing  its Chapter 11 bankruptcy, initially filed on August 6, 2019.

While stores are hosting liquidation sales, sadly, 719 employees will lose their jobs at its flagship on 660 Madison Ave, its Chelsea store at 101 Seventh Ave, its outlet in Central Valley, and its 97-year-old corporate headquarters at 575 Fifth Ave.

RELATED: Forever 21 Set To Close 200 Locations Following Bankruptcy Announcement

Employees in New York and at stores in Beverly Hills and San Francisco, which also closing on Sunday, will receive a five-week severance pay, if they were employed for two years or longer.

Sales have already begun being advertised at its Madison Avenue flagship along with that in Beverly Hills; with sweaters, scarves and handbags selling out of bins, racks and shelves.

RELATED: Pier One Imports Files For Bankruptcy

Furthermore, Saks Fifth Avenue reportedly plans to open Barneys boutiques inside their own department stores nationwide come September.

Stay tuned to Hollywood Unlocked for further coverage.

Press play to take a look at the empty floors in Barneys Beverly Hills

Source

Leave a Comment