Barneys New York Bids Farewell: Upscale Retailer To Shut Down For Good This Month

Barneys New York will see its final day on Feb. 23 as the upscale retailer closes all its stores for good. The company will also shut down its corporate headquarters in New York City.

Liquidation sales at Barneys New York have been underway since last year, with everything from purses and accessories to fixtures and display tables discounted, the New York Post reported.

Along with the store closings, which include Barneys’ Madison Ave and Seventh Ave locations in New York as well as its Beverly Hills and San Francisco, California, stores, and its outlet store in Central Valley, New York, the company will let 719 employees go, according to the company’s WARN filing.

Thursday’s government filing also mentioned that Barneys will close its corporate headquarters in 10 days. Employees were reportedly told that they will receive five weeks of severance pay if they worked for Barneys for two years or more and no accrued vacation time will be paid out.

Some employees will be cut prior to the Feb. 23 date, the Post reported.

Barneys filed for Chapter 11 bankruptcy in August 2019 and was purchased by Saks Fifth Avenue’s parent company Authentic Brands Group. Saks plans to open Barneys boutiques within its stores nationwide starting in September, the news outlet said.