In Finance, Insight, Retail

As Neiman Marcus and Nordstrom enter Manhattan, retail icons Henri Bendel and Lord & Taylor have closed, and now NYC icon Barneys has filed for bankruptcy protection—again. The Pressman family, the founders of Barneys, filed for Chapter 11 in 1996 and the company was sold in a leveraged buyout in 2000. The current owner Richard Perry’s hedge fund Perry Capital gained control in a debt-for-equity deal in 2012. He tried to sell the chain, but ultimately couldn’t find a new buyer or make the company’s finances work.

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