CollectionsJul 15, 2025
Boucheron’s New High Jewelry Calls Attention to Nature’s ImpermanenceThe “Impermanence” collection contemplates nature through the Japanese art of Ikebana (flower arranging) and philosophy of wabi-sabi.
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
MajorsJul 15, 2025
James Avery Expands to 2 More StatesThe Texas-based jewelry retailer has set up shop in Tennessee and Arizona.
Events & AwardsJul 15, 2025
Neiman Marcus Vet Joins Couture as Brand Director Eric Ford will step into the role, bringing with him decades of experience.
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.
IndependentsJul 15, 2025
Ben Bridge Jeweler Acquires Olympic ManufacturingIn addition to improved capabilities, the acquisition will allow the jeweler to offer support to other independent jewelers.
Weekly QuizJul 10, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsJul 15, 2025
Guzema Debuts First Colored Gemstone JewelryThe “Celestial Blue” capsule collection campaign features Olympian Kateryna Sadurska.
MajorsJul 14, 2025
Nanis Opens First StoreThe seasonal store, located in Mykonos, Greece, offers exclusive events, personal styling, and curated experiences.
Brought to you by
Jewelers of America is Headed to Las Vegas for JCK 2025The countdown is on for the JCK Las Vegas Show and JA is pulling out all the stops.
IndependentsJul 14, 2025
It’s the Summer of Love at Long’s JewelersThe New England jeweler is hosting a bridal event for the month of August.
SourcingJul 14, 2025
Ethical Gem Fair Heads to SeattleThe trade-only event will host its debut fair in the Emerald City later this month.
Events & AwardsJul 11, 2025
The Edge’s Annual Conference Returns in SeptemberIts sessions will focus on inventory strategies, staff performance, retention and acquisition, emerging market trends, and more.
CollectionsJul 11, 2025
Piece of the Week: Miseno’s ‘Arco’ EarringsFor its 10th anniversary, Miseno designed the “Arco” earrings based on the Arco Felice, an arch conceptualized in A.D. 95 in Miseno, Italy.
Policies & IssuesJul 11, 2025
James Avery to Donate $1M to Texas Hill Country Relief EffortsThe jewelry company is one of several contributing to relief efforts in the region after the recent floods.
TrendsJul 11, 2025
Kelly Osbourne’s Engagement Ring Is Sweet as HoneyInspired by fiancé Sid Wilson’s nickname for her, the white and yellow diamond ring features a unique honeycomb design.
CollectionsJul 10, 2025
Penny Preville Celebrates 5 Decades of Jewelry DesignThe brand is marking its 50th anniversary with a limited-edition bangle, high jewelry suites, new collections, and more.
IndependentsJul 10, 2025
Steven Goldfarb to Retire, Close Alvin Goldfarb JewelerGoldfarb said changes in the industry, coupled with his age and the updates needed to modernize his business, drove his decision.
MajorsJul 10, 2025
LVMH Names New Chairman, CEO of the AmericasLongtime LVMH executive Michael Burke has stepped into the role.
Events & AwardsJul 10, 2025
IAC Gold and Diamond Conference Returns to NYC Central topics of next week’s event include climate action, labor rights, artisan preservation, and value retention in producing countries.
MajorsJul 10, 2025
Hearts On Fire Appoints New Sales DirectorVickie Rokkos has joined the jewelry company as its new national sales director of North America.
SurveysJul 09, 2025
Jewelry Stays Strong as Luxury Market Slows, Bain & Co. Says Turbulence will be the new baseline for luxury as it faces its biggest potential setbacks in 15 years, a recent report said.
Supplier BulletinJul 09, 2025
JCK Unwrapped: Trends, Insights & Post-Show TipsSponsored by Rio Grande Jewelry Supply
CollectionsJul 09, 2025
Cece Jewellery’s New Fruit Jewels Celebrate Life’s SweetnessThe “For the Love of Fruits” collection features five fruit pendants, each holding a different meaning.
EditorsJul 09, 2025
The Most-Read Stories of 2025, So FarDiamonds and crimes (some involving diamonds) top the list of National Jeweler’s most popular stories halfway through the year.
SourcingJul 09, 2025
Florida Couple Finds 3-Carat Diamond in ArkansasThey discovered “The Dash Diamond,” named for their dog, at the Crater of Diamonds State Park earlier this month.
CollectionsJul 08, 2025
Mikimoto’s High Jewelry Collection Turns Pearls into PetalsThe “Les Pétales” collection imagines roses caught mid-bloom as a tribute to nature’s beauty.
ColumnistsJul 08, 2025
Peter Smith: Why Jewelers Struggle With Premium PricingLuxury brands charge thousands for their shoes and handbags. Jewelers pricing diamond products should take note, Peter Smith writes.
IndependentsJul 08, 2025
David Rotenberg of David Craig Jewelers Dies at 79Rotenberg was an active member of the American Gem Society and an accomplished appraiser who also worked with therapy dogs at a hospital.
