Barneys New York: What’s Next After Bankruptcy?

The scramble isn’t over for Barneys New York. The retailer’s bankruptcy filing in the wee hours of Tuesday morning answered at least one question — it couldn’t survive as currently structured — but stirred a slew of others and even more worries among vendors, including: will previous vendors be paid, will brands continue to ship merchandise, and, more importantly, does Barneys have a role to play at all in today’s retail landscape? Despite what the company described as “around-the-clock efforts — and some very close calls,” the Chapter 11 filing in the Southern District of New York’s Poughkeepsie’s office had less of the feel of a fresh start and more a sense that the roller-coaster ride of the past few months is more than likely set to continue, just under the watchful eye of bankruptcy judge Cecelia G. Morris for now, and then potentially under a new owner down the road. Barneys was able to secure an offer of at least $75 million in financing to operate while in bankruptcy and laid out plans to close 15 of its 22 stores. The company said it will continue to operate five of its flagships: Madison Avenue, 17th Street in the Chelsea section of Manhattan; Beverly

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