Policies & IssuesJul 30, 2025
Tariff on India Will Be 25%, Trump Says The president made the announcement via Truth Social Wednesday, adding that India also will face a penalty for its dealings with Russia.
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
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
FinancialsJul 30, 2025
Kering's Jewelry Brands Resilient As H1 Sales Slide 16%The luxury titan’s star brand Gucci continued to struggle amid a "tough" environment.
WatchesJul 30, 2025
Peek Inside Zadok Jewelers’ New Rolex Showroom in AustinIts opening marks the completion of the retailer’s new 11,000-square-foot store in the Texas capital.
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.
SurveysJul 30, 2025
Consumer Confidence Ticks Up in JulyRespondents shared concerns about tariffs and commentary on the “Big Beautiful Bill.”
Weekly QuizJul 25, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingJul 30, 2025
Rob Bates to Release Latest Book in His ‘Diamond District Mystery’ Series“Making a Killing in Diamonds” tells the story of Mimi Rosen, the disappearance of a scientist, and the murder of lab-grown diamond CEO.
EditorsJul 29, 2025
Out & About: Visiting Tacori’s Design Studio in LASenior Editor Lenore Fedow learned a lot when she took a behind-the-scenes factory tour with the jewelry brand earlier this year.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
Events & AwardsJul 29, 2025
Melee The Show Welcomes 15 New DesignersThe first-time exhibitors, set to debut at the New York City show, share a devotion to craftsmanship, storytelling, and material integrity.
SourcingJul 29, 2025
Auctim to Offer 7.3M+ Carats of Rough EmeraldsThe online auction house’s September sale will feature rough Brazilian emeralds of various qualities.
Policies & IssuesJul 28, 2025
U.S.-EU Come to Agreement on Tariffs Announced Sunday, the deal will set the tax on goods imported into the United States from the European Union at 15 percent.
CollectionsJul 28, 2025
Nanis Brings a New Palette to ‘Ipanema’A new edition of the Italian brand’s “Ipanema” collection has debuted with gemstones that evoke Brazil’s breathtaking views.
IndependentsJul 28, 2025
Sissy’s Log Cabin to Open Flagship in Arkansas The jeweler’s largest store yet is set to open in Little Rock next fall.
CollectionsJul 25, 2025
Piece of the Week: Jemma Wynne’s ‘Forme’ NecklaceAnne Hathaway was seen wearing the toggle necklace three times while filming scenes for “The Devil Wears Prada 2.”
Events & AwardsJul 25, 2025
Pre-Registration Open for September Hong Kong ShowJewellery & Gem World Hong Kong is scheduled for Sept. 15 to 21, and buyer pre-registration will be available until Sept. 7.
FinancialsJul 25, 2025
LVMH Sales Slip in H1 Amid ‘Prevailing Uncertainties’Renovations at Tiffany & Co. stores ate into profits in the company’s watch and jewelry division.
Events & AwardsJul 24, 2025
2 Retailers to Receive 2026 Gem Award for Lifetime AchievementMark and Candy Udell of London Jewelers will receive the honor at the 24th annual Gem Awards next March.
SourcingJul 24, 2025
De Beers Sees Diamond Production Sink 36% in Q2 While struggles continue at the mining and trading end of the pipeline, consumer demand for diamond jewelry is holding steady.
CollectionsJul 24, 2025
Francesca Villa Adds Dimension to Her Intaglio CharactersThe “Fantasia” jewelry collection turns the intaglio animals from her “Close Encounters” collection into 3D characters.
WatchesJul 24, 2025
Breitling Drops Super Bowl Watch Honoring the Philadelphia Eagles The special Classic Avi Chronograph 42 with an Eagles-green dial is limited to 59 pieces, a nod to the Super Bowl Philadelphia just won.
CrimeJul 23, 2025
JSA Warns of Violent String of Smash-and-Grabs in California JSA has received reports of mobs swarming jewelry stores, driving cars into the storefront or smashing through the windows.
CollectionsJul 23, 2025
Silvia Furmanovich’s ‘Kashmir’ Collection Is a Tribute to Northern IndiaThe “Kashmir” collection features centuries-old craft techniques made in collaboration with the region’s master papier-mâché artisans.
IndependentsJul 23, 2025
Montreal’s Ecksand Eyes Move to SoHoCreative Director Erica Bianchini shared why the jeweler is looking to expand into the U.S. and how it’s putting Canadian craftsmanship on the map.
IndependentsJul 23, 2025
IJO Raises Nearly $37K for LA Fire Relief Two Los Angeles Fire Department stations plan to use the donations to upgrade their equipment and tools.
CollectionsJul 22, 2025
Jewelry With a Rock ‘n’ Roll Aesthetic Heads to Sotheby’s LondonNext week, the auction house will kick off a selling exhibition of jewelry by British artist Hannah Martin and Coldplay’s Guy Berryman.
SourcingJul 22, 2025
Antwerp Diamond Heist Documentary Coming to Netflix“Stolen: Heist of the Century” is based on “Flawless,” the book about the middle-of-the-night theft, and will debut on Netflix in August.
ColumnistsJul 22, 2025
The Gifting Gap: How to Market Jewelry Beyond the HolidaysEmmanuel Raheb shares the top five gifting moments outside of major holidays that jewelers should build marketing campaigns around.
