What Barney’s bankruptcy means for luxury retail

LAS VEGAS NV/USA – FEBRUARY 14 2016: Barneys New York exterior sign and logo. Barneys New York is an American chain of luxury department stores headquartered in New York.
Photo by Phillip Pessar, Flickr Barney’s department store has been synonymous with luxury brands since it was founded nearly a century ago, but last week the US retailer announced it is in the midst of a potential bankruptcy filing. The cost of renting retail space in prime locations (in this case New York City’s Madison Avenue) is a contributing factor to the American retail conglomerate’s downfall, which has struggled to keep up with changing consumer shopping trends in the luxur

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