CollectionsMay 21, 2025
Bulgari Highlights Its Colorful Past in Phenomenal ‘Polychroma’ CollectionThe jeweler’s high jewelry collection features extraordinary gemstones, like a 241.06-carat emerald and the world’s fourth-largest spinel.
FinancialsAug 16, 2019
Judge Grants Barneys Access to Financing Offer
The retailer can now use the remainder of its $218 million in specialty financing to stay afloat while it searches for a buyer.
Barneys New York received $218 million from Brigade Capital Management and B. Riley Financial to keep operations running after filing for Chapter 11 bankruptcy protection earlier this month. (Photo courtesy of Barneys New York’s Facebook page)
New York—Barneys New York Inc. was given the green light by a New York bankruptcy court judge Wednesday to utilize additional funding needed to keep it afloat while it searches for a buyer.
The retailer filed a motion earlier this month asking for permission to access debtor-in-possession financing, a type of financing extended to companies in distress that is overseen by the lender and subject to court approval.
Barneys initially received an offer of $75 million in debtor-in-possession financing 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.
The court previously had granted interim approval for immediate access to $75 million of the $218 million; the judge’s decision this week gave the retailer access to the remaining amount, $143 million.
Barneys filed for Chapter 11 bankruptcy protection Aug. 6 in New York amid soaring costs and declining sales. When it filed, the retailer announced that it would close 15 of its 22 locations, including the Barneys stores in Chicago, Las Vegas and Seattle.
It said it will use the DIP financing to support its operations, including continuing to pay employee wages and benefits as well as honoring customer payments and orders.
The company said in a statement following its filing that trade vendors, manufacturing partners and suppliers would be paid in full on or after the filing date.
Barneys owes unsecured claims totaling seven figures to creditors such as Celine, Yves Saint Laurent, Balenciaga, Givenchy, Gucci and Prada, according to court documents.
There were no jewelry brands included on the list of Barneys top 30 creditors, though the retailer is a major seller of fine jewelry and carries some of the most well-known names in the industry.
“This significantly enhanced financing commitment demonstrates the belief of Brigade Capital and B. Riley Financial in the value of the Barneys New York brand and business,” Barneys CEO Daniella Vitale said in a statement following news of the offer.
The capital injection provided Barneys with both more money and more time to find a buyer to save the business.
The retailer has until Oct. 24 to find a buyer and avoid liquidation, according to court documents, about a month-long extension from the previously set deadline of Sept. 25.
If a buyer is
found by that date, Barneys must close the sale by Nov. 2, just one week later.
More on Financials
The Latest
ColumnistsMay 21, 2025
Edahn’s Take: Analyzing the 2025 ‘$100 Million Supersellers’ List In a special column for the State of the Majors, Edahn Golan breaks down what the top-performing fine jewelry sellers are doing right.
MajorsMay 21, 2025
Beyoncé Dons Brilliant Earth Necklace During Cowboy Carter TourThe bolo tie necklace is inspired by “Queen Bey” and set with a nearly 15-carat black diamond.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
SourcingMay 21, 2025
Gem Legacy Expands Advisory CouncilThe nonprofit focused on mining communities in East Africa has added three new members to its advisory council.
Weekly QuizMay 15, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsMay 20, 2025
Annie Doresca to Lead DCA as New CEO, PresidentCurrent Diamond Council of America President and CEO Terry Chandler is set to retire in January 2026.
ColumnistsMay 20, 2025
Peter Smith: Leading Through ChangeCommunicating clearly with your staff is key to navigating turbulent times, writes columnist Peter Smith.
Brought to you by
Watch: The Winston Red: GIA Examines the Smithsonian’s Newest AdditionSupplier Spotlight Sponsored by GIA
IndependentsMay 20, 2025
Luis Morais Opens Flagship, Launches Collection Celebrating 25 YearsThe “Inner Journey” collection debuted as the brand celebrated its 25th anniversary, with designs inspired by Morais’ journey.
MajorsMay 20, 2025
Tanishq Opens Seventh U.S. StoreTanishq is expanding its presence in the United States with a new store in Santa Clara, California, which is its largest in the country.
Events & AwardsMay 19, 2025
NAJA Opens Scholarship Applications for 2025Two scholarships are available, one for new and non-members and another for NAJA certified members.
IndependentsMay 19, 2025
Day’s Jewelers to Open Ninth LocationThe retailer’s new flagship is set to open in October at the Tuscan Village development in Salem, New Hampshire.
SourcingMay 19, 2025
State of Colored Stones: The Big Three in the Modern WorldSapphires, emeralds, and rubies are finding their place in a U.S. market captivated by the gemstones once referred to as “semi-precious.”
MajorsMay 16, 2025
Saks Fifth Avenue, Amazon Partner on Luxury Online StorefrontPlus, parent company Saks Global announces plans to cut ties with up to 600 vendors.
Recorded WebinarsMay 16, 2025
Watch: Physical Retail Is Not DeadPeter Smith joined Michelle Graff to chat about the state of brick-and-mortar stores and share a few book and podcast recommendations.
CollectionsMay 16, 2025
Piece of the Week: Tejen’s ‘Candy Bowl’ Torque NecklaceThe necklace features a candy-colored Australian white opal in 18-karat Fairmined gold, as the brand was named a Fairmined ambassador.
Supplier BulletinMay 15, 2025
Treasure Hunting at the Las Vegas Antique Jewelry and Watch ShowSponsored by the Las Vegas Antique Jewelry and Watch Show
AuctionsMay 15, 2025
'The Mediterranean Blue' Diamond Sells for $21M at Sotheby’sA private American collector purchased the 10-carat fancy vivid blue diamond.
CollectionsMay 15, 2025
Jessica McCormack’s ‘Fruit Salad’ Collection Is Fresh for SummerThe designer has taken the appeal of freshly picked fruit and channeled it into a capsule collection of earrings, necklaces, and pendants.
SourcingMay 15, 2025
Tariffs Take Toll on India’s Gem and Jewelry Industry in April The country’s gem and jewelry exports fell 5 percent year-over-year last month, while imports declined 18 percent.
Policies & IssuesMay 15, 2025
State of Retail: How to Better Serve Customers With DisabilitiesAround 54 million Americans and counting live with a disability. Here’s how to make your jewelry store and website more accessible.
Events & AwardsMay 15, 2025
Poet Sekou Andrews to Give Closing Keynote at ConvergeThe event is also accepting poster submissions now through June 16.
Policies & IssuesMay 14, 2025
Here’s What Happened to Pope Francis’ RingBefore Pope Leo XIV was elected, a centuries-old procedure regarding the late pontiff’s ring was followed.
AuctionsMay 14, 2025
Custom Rolex Pulled From Sotheby’s SaleThe one-of-a-kind platinum Rolex Cosmograph Daytona was estimated to fetch up to $1.7 million.
Lab-GrownMay 14, 2025
State of Diamonds: What’s Next for Lab-Grown Diamonds?While the product has entrenched itself in the market, retailers and consultants are assessing the next phase of the category’s development.
CrimeMay 14, 2025
Seattle Detectives Seek Public’s Help in Tiffany & Co. Robberies The police are trying to identify the man suspected of robbing two Tiffany & Co. locations in the area.
MajorsMay 14, 2025
Jeff Corey Elected Chair of JBT Board The well-known Maine jeweler takes over for Brian Fleming and will serve a one-year term.
