Barneys New York Has Filed For Bankruptcy

Prepare yourself accordingly: Your heart may just break over this latest bit of retail news. In July, Business of Fashion reported Barneys New York, one of Manhattan\'s most iconic department stores, could be preparing to file for bankruptcy. According to BoF, Barneys is struggling with high rents and changing consumer tastes. Not to mention Barneys has failed to adapt to the changing landscape of retail, racially profiling Black customers and carrying limited sizes despite 67% of women in the U.S. wearing a size 14 or larger. Presently, Barneys has 28 locations, including stores in Beverly Hills, California; Chicago; Seattle; Boston; San Francisco; and Las Vegas.On Tuesday, the retailer officially filed for Chapter 11 bankruptcy protection. Barneys New York issued the following statement:“For more than 90 years, Barneys New York has been an iconic luxury specialty retailer, renowned for its edit, strong point of view, creativity and representation of the world’s best designers and