Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy.
The luxury clothing company, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy filing. That's according to a source close to the matter who asked to remain anonymous because the discussions are confidential.
The company has nearly a dozen locations, mostly in the swankier districts of cities like Boston, Beverly Hills, California, and New York.
FILE - In this Oct. 28, 2013, file photo, pedestrians pass Barneys New York department store in New York. Luxury retailer Barneys New York may soon join the ever lengthening list of retailers seeking protection in bankruptcy. The luxury retailer, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy, according to a source close to the matter who asked to remain anonymous because the discussions are confidential. (AP PhotoFrank Franklin II, File)
High-rent retailers like Barneys now compete with online luxury players like Net- a-Porter and the RealReal.com, which don't have need to maintain flagship stores.
Reuters first reported that Barneys was evaluating bankruptcy options.
FILE - In a Jan. 11, 1996 file photo, pedestrians pass by upscale clothier Barneyís, Inc., in Beverly Hills, Calif. Luxury retailer Barneys New York may soon join the ever lengthening list of retailers seeking protection in bankruptcy. (AP PhotoNick Ut, File)