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Barneys Seen Inching Closer to Bankruptcy

Time may be working out for Barneys New York, with business sources fearing a chapter might come as early as this week.
The posh division retailer acknowledged final week that it was “actively evaluating opportunities to strengthen our balance sheet and ensure the sustainable, long-term growth and success of our business.”
That assertion spooked an already nervous vendor base and sources stated elements, an important supply of commerce financing in trend, have stopped approving orders to the retailer. Whereas one other investor might are available or different monetary preparations made, these options more and more appear to be lengthy photographs.
Two sources stated a chapter submitting might come this week, with one indicating that it might come by Wednesday.
“Because they went public with it, they kind of scared everybody off,” one business supply stated, citing the corporate’s response to information reviews. “My sense is that something’s got to happen quickly; I’m sure most people aren’t shipping to them. This is a pretty crucial time of year not to be getting receipts.”
Barneys is continuous to discover the potential of bringing in an investor or strategic companions to assist enhance its steadiness sheet, and is speaking with landlords to renegotiate leases.
It additionally doesn’t appear to have misplaced the arrogance

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