Sad day in the world of luxury fashion.
As reported in The Wall Street Journal, "The Wall Street Journal reported Monday the company was close to filing for bankruptcy and near a financing deal with Gordon Brothers and Hilco Global, firms specialized in selling assets for distressed companies. The loan was expected to fund the company’s stay in bankruptcy for 60 days while it attempted to clinch a deal with a buyer, according to people familiar with the matter. If Barneys cannot reach a deal, it would liquidate, they said."
The Wall Street Journal-August 6, 2019: Barneys Files for Bankruptcy, Plans to Close Most Stores
Learn more about Barneys.
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