Barneys reportedly may become the latest brick-and-mortar retailer to file for bankruptcy.
Reuters, citing unnamed sources, reported Saturday that the company"has not yet made a final decision on whether or not to seek bankruptcy protection, and is weighing other possible solutions for addressing high rents that are straining its business." The sources told Reuters that filing for bankruptcy protection could help alleviate the pressure of expensive leases.
Read MoreCalvin Klein, Ralph Lauren , Lord & Taylor, Henri Bendel, and, reportedly, Versace are leaving the once-coveted shopping destination in Manhattan.High-end brands used their stores on the upscale New York blocks to attract wealthy residents and tourists. Each of the companies leaving Midtown faces its own set of challenges. But in general, the value of cavernous flagship stores is coming under pressure as more customers shop online and on their phones.
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