Barneys Liquidation Sale: Everything We Know So Far

Now that the Barneys New York bankruptcy battle is finally resolved, the question on every fashion-oriented person’s mind is, when is the liquidation sale? The retailer, which filed for Chapter 11 bankruptcy protection in August, finally found a new owner on Friday in the Authentic Brands Group, buying the historic New York retailer for $271 million. ABG has plans to keep Barneys’ Madison Avenue flagship open for the next year as an experiential pop-up store format, but bring the Barneys name over exclusively to Saks Fifth Avenue as its retail partner. Read More: The Fashion Community Weighs in on Barneys’ Sale With Friday’s bankruptcy deal, Barneys has already begun its sale, which ABG chairman and chief executive officer Jamie Salter called “transition sales” or “non-store-closing sales” instead of liquidation sales. However, these sales are currently a meager 5 or 10 percent off merchandise across categories — according to the Barneys web site — which, considering the steep prices of its designer offerings, doesn’t account for much savings. Social media has already shown its disappointment. I don’t know what the increases will be over time but anything under 50% is not a sale. SFA was already at 40-50% last week for pre-sale. Barneys is selling

Follow WWD on Twitter or become a fan on Facebook.

Read More...

from WWDWWD https://ift.tt/33hR0fc