August 6, 2019 / 4:32 AM / in 10 months

Luxury department store Barneys files bankruptcy - NYT

Aug 6 (Reuters) - U.S. luxury department store chain Barneys New York Inc filed for Chapter 11 bankruptcy protection to restructure its business and pursue a sale, the New York Times reported on Tuesday.

Barneys struck a deal for $75 million in additional financing with two firms, Gordon Brothers and Hilco Global, to help it keep operating while it navigates bankruptcy court, the newspaper said here

The company plans to close 15 of its 22 locations, including stores in Chicago, Seattle and Las Vegas, as well as most of its outlets, the paper added.

Barneys did not immediately respond to a Reuters request for comment. (Reporting by Shubham Kalia in Bengaluru)

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