TrendsJul 31, 2026
These Pieces of the Week Are Sweet Edina Kiss’ “Popsicle” pendant and Karina Choudhrie’s “Ice Cream” charm satisfy that summer craving for a sweet piece of jewelry.
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
SourcingJul 31, 2026
Gemfields’ H1 Revenue Jumps 72%The miner’s ruby and emerald auctions brought in a combined $102.9 million.
SourcingJul 30, 2026
De Beers Sale in ‘Final, Most Challenging’ Phase, Anglo CEO SaysThe goal is for the De Beers sale to be finished by the second half of 2026, with the subsequent approvals process expected to take a year.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Policies & IssuesJul 30, 2026
JA Heads Back to Washington as New Wave of Tariffs Takes Effect David Bonaparte, along with Tim Haake and Ronnie VanderLinden, continue to lobby for tariff exemptions for diamonds, gemstones, and pearls.
Weekly QuizJul 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SurveysJul 30, 2026
Consumer Confidence Slips in JulySurvey respondents were concerned about the rising prices of food and groceries as well as unemployment.
Events & AwardsJul 30, 2026
Vicenzaoro Releases 2026 Education LineupThe trade show, slated for Sept. 4-8 in Vicenza, Italy, will feature sessions on trends, AI, gemology, and manufacturing.
Brought to you by
Wedding Band Trends 2026: Personalization Takes Center StageColored gemstones, artisan finishes, mixed metals, and meaningful details are shaping demand in bridal jewelry.
Events & AwardsJul 30, 2026
Hillsborough Show Moves to New Location for 2026The public shopping event featuring art, jewelry, watches, and rare collectibles, will take place in Santa Clara, California, this fall.
EditorsJul 29, 2026
Q&A: The Past and Future of Angola’s Diamond Industry Endiama Commercial Director Elton Escrivão knows people have a lot of misperceptions about Angola. He wants to change that.
FinancialsJul 29, 2026
Kering’s H1 Jewelry Sales Up 14%Boucheron reached record sales while Pomellato found success in its signature collections.
Events & AwardsJul 29, 2026
Lauren Harwell Godfrey Designs a Flag for ArkansasShe was one of more than 120 American designers who created flags for the “United Flags of Fashion” project led by CFDA and Vogue.
ColumnistsJul 28, 2026
Peter Smith: Why Your Job Postings May Be Working Against You Smith reveals the method The Retail Smiths use to help retailers and vendors write better job postings.
FinancialsJul 28, 2026
Tiffany & Co., Bulgari Lead the Way for LVMH in H1LVMH’s jewelry and watch brands outperformed the company’s other divisions in an environment the company described as “disrupted.”
CollectionsJul 28, 2026
Lionheart’s New Collection Unites Spiritual Iconography“Sacred Heart” features symbols like crosses, angel wings, the Star of David, and the evil eye as a representation of coexistence.
Events & AwardsJul 28, 2026
The Edge Funding 2 Scholarships Via 24 Karat Club SEUS The scholarships will go to early-career professionals looking to study gemology, bench work and jewelry design, or store operations.
SurveysJul 27, 2026
Jewelry Leads Luxury Market Amid Stabilization, Bain SaysBain & Company delved into the trends shaping the luxury market, the impact of AI, and more in its recent study.
SourcingJul 27, 2026
‘Rubies’ Goes on Display at Harvard MuseumThe exhibition reveals the gemology, geology, and cultural history of the iconic red gemstone.
Policies & IssuesJul 24, 2026
New Trump Tariffs: What They Mean for Jewelry The new sweeping slate of tariffs impacts 60 countries, including India, China, Thailand, Hong Kong, and the United Arab Emirates.
TrendsJul 24, 2026
Amanda’s Style File: Ode to ‘The Odyssey’From coin pendants to diamond shields, these old world-inspired jewels are the perfect accessory for an epic journey.
TrendsJul 24, 2026
Courtney Leidy’s Silk Cord Pendants Center Unexpected Pairings Our Piece of the Week pairs a checkerboard-cut amethyst with an ivy green silk cord.
PodcastsJul 23, 2026
Episode 7: Reinhold Jewelers on the Power of RelationshipsMildred Marcano Abrams and Yael Reinhold join the podcast to talk community connections, holiday plans, and preserving Reinhold’s legacy.
SourcingJul 23, 2026
De Beers’ Production Jumps 88 Percent in Q2 Production also was up in the first half of 2026 but is expected to “substantially” decrease in H2 as two key mines undergo maintenance.
CollectionsJul 23, 2026
Silvia Furmanovich’s New Collection Travels Back to the 1920s“Art Deco” fuses ancestral techniques, rare materials, and modern perspectives as a tribute to the optimism and curiosity of the movement.
IndependentsJul 23, 2026
Sissy's Log Cabin Opens Casino StoreThe jeweler’s newest store is inside Arkansas’ Saracen Casino Resort.
WatchesJul 23, 2026
Movado Inks Licensing Deal With Kate Spade New YorkThe watch company will design, manufacture, and distribute Kate Spade New York watches.
Policies & IssuesJul 22, 2026
Trump to Put 50% Tariff on Canadian Goods The higher tax is set to go into effect in August and will apply to loose polished diamonds as well as precious and base metals jewelry.
