Barneys New York Inc. Files for Bankruptcy Protection

The U.S. luxury department store chain, Barneys New York Inc., put itself up for sale after failing to find a buyer and filed for chapter 11 protection. Barneys secured $75 million in new financing to help keep the store operating while it steers through bankruptcy court. The retailer will close its stores in Chicago, Seattle, and Las Vegas, along with five smaller concept stores, and seven Barneys Warehouse locations.

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