WatchesAug 22, 2025
WatchTime NY Show Returns for 10th Anniversary EditionThe three-day watch collector show, coming this October, will feature 44 exhibiting brands, as well as a new dinner experience.
MajorsAug 06, 2019
Barneys Files for Bankruptcy, Plans to Close 15 Stores
The retailer’s flagship Madison Avenue store and four others will remain open.
Barneys recently opened The High End, a “luxury cannabis lifestyle and wellness concept shop,” on the fifth floor of its Beverly Hills flagship. The store is one of the seven that will remain open in the wake of the retailer’s Chapter 11 filing.
New York—Luxury department store chain Barneys New York Inc. filed for Chapter 11 bankruptcy protection Tuesday morning in New York, confirming previous reports that the company was exploring its options amid soaring costs and declining sales.
According to a company statement or the bankruptcy filing, the iconic retailer plans to close 15 of its 22 stores, including locations in Chicago, Las Vegas, and Seattle, as well as five of its smaller concept stores and seven Barneys Warehouse stores.
It will continue operating five flagship locations—on New York’s Madison Avenue and downtown Manhattan as well as its stores in Beverly Hills, San Francisco and Copley Place in Boston.
The Barneys Warehouse stores in outlet centers Woodbury Common in upstate New York and Livermore in California will also remain open, and Barneys’ websites will continue to fulfill orders.
The company is looking for a buyer and initially received an offer of $75 million in debtor-in-possession financing—a type of financing extended to companies in distress that is overseen by the lender and subject to court approval— from financial services companies Hilco Global and the Gordon Brothers Group to support its sale process.
But another last-minute offer materialized the day of its Chapter 11 bankruptcy filing. Brigade Capital Management and B. Riley Financial came in with an offer of $218 million in DIP financing.
“Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” CEO Daniella Vitale said in a statement.
A recent rent hike weighed heavily on the retailer’s balance sheet.
The rent on Barneys’ Madison Avenue flagship jumped from $16 million to $30 million a year after a city arbitrator approved a rent hike by landlord Ashkenazy Acquisition upon the expiration of its lease in January.
Ashkenazy Acquisition bought the building after Barneys first Chapter 11 filing in 1996, following a dispute with its partner Isetan, a Japanese department store chain.
At the end of the legal proceedings, Isetan held the titles to the Barneys stores in New York as well as in Chicago and Beverly Hills and it sold them to Ashkenazy Acquisition for $180 million in 2001.
In its statement on Tuesday’s Chapter 11 filing, the retailer said it has filed motions related to supporting its operations, including continuing to pay employee wages and benefits as well as honoring customer payments and orders, which it expects
Editors' Picks
Sponsored by
will be approved by the court.
Trade vendors, manufacturing partners and suppliers will be paid in full on or after the filing date, the company said.
The company owes seven-figure sums in unsecured claims to creditors such as Celine, Yves Saint Laurent, Balenciaga, Givenchy, Gucci and Prada, as per the court filing.
Editor’s note: This story was updated post-publication to note that Barney’s received and accepted financing from Brigade Capital Management and B. Riley Financial in the amount of $218 million. Information about this additional financing was not available at the time of publication.
Trade vendors, manufacturing partners and suppliers will be paid in full on or after the filing date, the company said.
The company owes seven-figure sums in unsecured claims to creditors such as Celine, Yves Saint Laurent, Balenciaga, Givenchy, Gucci and Prada, as per the court filing.
Editor’s note: This story was updated post-publication to note that Barney’s received and accepted financing from Brigade Capital Management and B. Riley Financial in the amount of $218 million. Information about this additional financing was not available at the time of publication.
More on Majors
The Latest
Policies & IssuesAug 21, 2025
JA, IDMA Talk Tariffs With Execs in DC The group met with the president's senior trade advisor earlier this week to express the industry’s concerns about the effects of tariffs.
MajorsAug 21, 2025
Tiffany & Co. Pops Up at 2025 US OpenThe pop-up will display this year's Tiffany & Co. Singles Championship trophies along with a diamond-encrusted tennis racket and ball.
Brought to you by
Rallying Call for the Jewelry Industry on Tariffs and Other Key IssuesJewelers of America is leading the charge to protect the industry amidst rising economic threats.
IndependentsAug 20, 2025
Bellman’s Jewelers Opens Second Store After COO's TikTok Takes OffThe New Hampshire-based store has expanded to Boston, propelled by the success of Alex Bellman’s TikTok page, “The Truthful Jeweler.”
Weekly QuizAug 22, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CrimeAug 20, 2025
Another CA Jewelry Store Rammed With Car, RobbedThe latest incident happened Monday at a store in Oakland, California, continuing a pattern JSA first warned about last month.
WatchesAug 20, 2025
Oris Launches Watch Benefiting NYC Harbor Oyster RestorationThe new aqua green New York Harbor Limited Edition II is the watchmaker’s second collaboration with the Billion Oyster Project.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
Events & AwardsAug 20, 2025
Take the Jewelers for Children ‘Trinity of Purpose’ ChallengeParticipants who attend any three Rings of Strength events will be awarded a special medal.
SourcingAug 19, 2025
Dubai’s Jemora Group Buys Diamond Miner LucapaThe investment company, founded by Dev Shetty, has acquired the struggling miner and its assets, including the Lulo mine in Angola.
ColumnistsAug 19, 2025
Peter Smith: The Arrival Fallacy and Jewelry RetailSmith shares wisdom he gleaned from a podcast he was listening to one morning while being walked by his dog, a Malshi named Sophie.
CrimeAug 19, 2025
Customs Seizes 7,300 Pairs of Fake ‘Alhambra’ EarringsThe counterfeit Van Cleef & Arpels jewels would have been worth more than $30 million if genuine.
MajorsAug 19, 2025
MJSA Apprenticeship Program Is Nationally RecognizedThe MJSA Mentor & Apprenticeship Program received the Registered Apprenticeship Program designation by the U.S. Department of Labor.
WatchesAug 19, 2025
Casio America Names New Timepiece Division ManagerCasio executive and watch enthusiast Masaki Obu is the new general manager of its U.S. timepiece division.
MajorsAug 18, 2025
Verragio’s Michael Barabash, a ‘Kind Soul,’ Dies at 58Barabash, Verragio’s client relations representative, was a vital member of the team and is remembered as being warm and full of life.
CollectionsAug 18, 2025
John Hardy’s New ‘Dot’ Collection Is on PointOriginally introduced in 1992, the “Dot” collection is back with a capsule featuring five archival designs and three new creations.
Events & AwardsAug 18, 2025
IJO Announces 2025 Vendor of the YearAllison-Kaufman has received the honor for the fourth year in a row.
FinancialsAug 15, 2025
In Q2 Results, Pandora Talks Tariffs, Q4 Plans The company had a solid second quarter, with sales of non-charm jewelry outpacing sales of pieces in its core collections.
EditorsAug 15, 2025
Piece of the Week: Etho Maria’s Showgirl-Approved Ruby Drop Earrings Taylor Swift dons the vibrant pair in new promotional imagery for her upcoming album, “The Life of a Showgirl,” set to release in October.
WatchesAug 15, 2025
Audemars Piguet Acquires Majority Stake in ManufacturerIts investment in micromechanics expert Inhotec will preserve skills essential to the watchmaking industry as a whole, said the company.
MajorsAug 15, 2025
Rio Grande Names New Marketing DirectorNicolette Bianchi joins the wholesale provider with more than 15 years of cross-industry experience in marketing and product development.
CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
