Store Closings: Bankrupt Barneys to Begin Liquidation
Great American Group and Tiger Capital Group announced that store closing sales will soon begin at the five flagship Barneys New York stores and at Barneys Warehouse locations. Exclusive private sale events are being planned for Barneys' most loyal customers, starting next week.
The store closing sales are being conducted in conjunction with Barneys' Chapter 11 filing. A deal by Authentic Brand Group to buy Barneys’ brands and other intellectual property closed on Friday. ABG plans to convert the Madison Ave. site into “a pop-up retail experience, bringing together an eclectic curation of boutiques, art and cultural installations and exhibits, and entertainment that fosters creativity and community.” Barney’s popular restaurant Fred’s will remain open, and AMG plans to license out the Fred’s name to luxury developments abroad.
Barney’s is well known for its signature sense of style and curation of merchandise from the world's top designers. This exclusive merchandise includes designer clothing, shoes, handbags, accessories, jewelry, cosmetics, fragrances, and gifts for the home. The sale will offer exceptional savings on a wide range of luxury goods and fashion for men, women and children.
“This is an once-in-a-lifetime opportunity for [Barney’s] most loyal customers to buy items that rarely go on sale at markdown prices,” said Scott Carpenter, president of retail solutions with Great American Group. “We encourage shoppers to visit their nearest Barneys location to take advantage of this sale before this highly exclusive merchandise sells out."
The store closings sale is expected to last for a limited time only as the firms work to quickly sell through all inventory during the upcoming holiday season. Gift cards may be redeemed until November 7th, 2019 in accordance with the Bankruptcy Court order.
Barneys New York flagships include:
- Madison Avenue at 660 Madison Avenue in New York, NY
- Downtown New York at 101 Seventh Avenue in the Chelsea district of Manhattan
- Beverly Hills at 9570 Wilshire Boulevard in Los Angeles, CA
- San Francisco at 77 O'Farrell Street in downtown Union Square
- and Copley Place at 100 Huntington Avenue in Back Bay Boston
Store closing sales will also begin at Barneys Warehouse stores located at Woodbury Common (240 Hudson Valley District, Central Valley, NY) and San Francisco Premium Outlets (2626 Livermore Outlets Drive, Livermore, CA). Customers may also participate in the sale online by visiting Barneys.com and BarneysWarehouse.com.