Lab-GrownMay 08, 2026
NDC Publicly Criticizes Pandora Over ‘Misleading’ Natural Diamond ClaimsNDC said in an open letter that Pandora’s statements about the carbon footprint of lab grown versus natural diamonds are inaccurate.
MajorsJul 24, 2019
Barneys May Be On The Brink of Bankruptcy, Reports Say
The rent on the retailer’s Madison Avenue flagship nearly doubled recently, from $16 million annually to $30 million.
Barneys recently opened The High End, a “luxury cannabis lifestyle and wellness concept shop,” on the fifth floor of its Beverly Hills flagship. The luxury retailer is reportedly considering filing for Chapter 11 bankruptcy protection after rent on its New York store nearly doubled.
New York—Luxury department store chain Barneys New York Inc. may soon seek bankruptcy protection as it combats soaring rents and a shift in consumer tastes, according to a Reuters report published earlier this month.
The retailer has managed to weather changing tastes in its 100-year-long history, most recently opening a luxury cannabis-themed shop in its Beverly Hills location, but a rent hike has been weighing heavily on Barney’s balance sheet.
The rent on its 660 Madison Ave. flagship jumped from $16 million to $30 million a year after a city arbitrator approved a rent hike by landlord Ashkenazy Acquisition when Barneys’ lease expired in January 2019, as per a report by The Real Deal.
The building was sold to Ashkenazy Acquisition as a result of the company’s 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, The New York Times reported.
When Isetan severed ties with Barneys in 2001, the buildings in these locations were sold to Ashkenazy Acquisition for $180 million.
Ashkenazy leases space in a slew of notable buildings, including The Plaza Hotel in New York City, Faneuil Hall in Boston and Union Station in Washington, D.C.
Barneys’ 20-year lease set the annual rent at $16 million with a clause that stated the rent could be raised to fair market value when the lease expired. Fair market value was determined to be $60 million, which was then slashed in half to $30 million by the city arbitrator.
“It’s crazy to double the rent; half of Madison Avenue is empty,” Peter Marino, the architect who designed the Madison Avenue store, said in an interview with The New York Times.
Lord & Taylor, Henri Bendel, Calvin Klein and Ralph Lauren have left the area in recent years, with more retailers said to be in talks to follow.
Barneys is reportedly exploring its options with the help of law firm Kirkland & Ellis, consultants MII partners and investment bank Houlihan Lokey, sources said. If the company chooses not to file for Chapter 11 bankruptcy protection, its options include renegotiating its leases or bringing in a strategic advisor.
Barneys declined to comment directly on the bankruptcy rumors.
In a statement emailed to National Jeweler Tuesday, a company spokesperson said: “Our board and management are actively evaluating
Editors' Picks
Sponsored by
opportunities to strengthen our balance sheet and ensure the sustainable, long-term growth and success of our business.”
The spokesperson also noted that Barneys is moving forward with planned store openings at American Dream, the new mega-mall in New Jersey, and at Bal Harbour Shops in Miami Beach.
Barneys operates 22 stores in the United States as well as five Freds cafes and Gene’s Cafe, located in its Madison Avenue flagship.
The spokesperson also noted that Barneys is moving forward with planned store openings at American Dream, the new mega-mall in New Jersey, and at Bal Harbour Shops in Miami Beach.
Barneys operates 22 stores in the United States as well as five Freds cafes and Gene’s Cafe, located in its Madison Avenue flagship.
More on Majors
The Latest
SourcingMay 08, 2026
Ronnie VanderLinden Takes Over as WDC President The diamantaire and industry leader succeeds Feriel Zerouki and said he will focus on being a “champion” for natural diamonds.
TrendsMay 08, 2026
Rihanna Chooses ‘Desert Diamonds’ for 2026 Met GalaShe wore our Piece of the Week, Glenn Spiro’s “Old Moghul Golconda” earrings, featuring fancy brown-yellow diamonds totaling 51.90 carats.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
Events & AwardsMay 08, 2026
JA Announces 2026 CASE Award WinnersTwo pieces were named “Best in Show,” one from the retail category and one from the supplier category.
Weekly QuizMay 07, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
FinancialsMay 07, 2026
Brilliant Earth Appeals to Higher-Income Shoppers in Q1The jewelry retailer noted resilience among its higher-end customers while demand softened for its lower-priced offerings.
AuctionsMay 07, 2026
‘Spectacular’ Kashmir Sapphire Headlines Heritage Spring Jewelry SaleLed by the 6.59-carat sapphire, the sale garnered $9.7 million, a record total for a Heritage jewelry auction.
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.
WatchesMay 07, 2026
Chrono24 Names New CEOJosé Gaztelu has been promoted to the role, which has been vacant since last year.
Events & AwardsMay 07, 2026
JA Accepting Applications for 2026 Scholarship ProgramIt has also opened the application period for the Seymour & Evelyn Holtzman Bench Scholarship through June 30.
SourcingMay 06, 2026
Canada’s Oldest Diamond Mine Faces Uncertain FutureThe owner of the Ekati mine, which opened in 1998, has filed for insolvency protection amid the significant decline in diamond prices.
FinancialsMay 06, 2026
Pandora to Add Carbon Footprint Info to Lab-Grown DiamondsThe company announced the change alongside its Q1 results, which showed that the jewelry brand’s year is off to a shaky start.
AuctionsMay 06, 2026
Steve McQueen’s Heuer Monaco Watch Heads to Sotheby'sOf the many examples used in the filming of “Le Mans,” this one is believed to have spent the most time on Steve McQueen’s wrist.
EditorsMay 05, 2026
This Ohio Designer’s Jewelry Made It to the Met GalaMegan Piccione dressed Lauren Wasser in layers of diamond jewelry, making her stand out in a crowd that included celebrities like Beyoncé.
SourcingMay 05, 2026
Doug Hucker Returns to His RootsFollowing decades of association leadership, the “semi-retired” colored gemstone expert is turning his focus to gemstone education.
Events & AwardsMay 05, 2026
AMNH to Showcase Famous Jewelry, Trophies in Sports HistoryThe museum’s new exhibition will feature one of Jesse Owen’s Olympic medals, Yogi Berra’s crown, Super Bowl rings, and more.
Events & AwardsMay 05, 2026
JIS Launches Brand Exposure ProgramThe new program provides access to media exposure and editorial opportunities for exhibitors and retailers.
CollectionsMay 04, 2026
Melanie Georgacopoulos Turns Pearls Into Light for ‘Eclipse’ CollectionThe “Eclipse” jewelry collection captures the fleeting moment where light and shadow align though onyx, diamonds, and freshwater pearls.
ColumnistsMay 04, 2026
The Key Mindset for Better Trade Show BuyingBuying discipline at trade shows starts with clarity about your inventory levels, Smith writes.
CrimeMay 04, 2026
Pawn Shop Manager Shot, Killed in FloridaLazaro Rodriguez Vega was murdered inside Cash Out Gold and Silver in Fort Pierce. A 20-year-old man has been charged in the case.
IndependentsMay 04, 2026
Zadok Jewelers, Austin Parks Foundation Support Wildflower PreservationA portion of every engagement ring sold in its Austin showroom will support the care and preservation of Austin’s wildflowers and green spaces.
TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
