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Barneys Files for Bankruptcy Protection

Locations in Chicago, Las Vegas and Seattle to shutter

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Barneys New York (New York) has filed for bankruptcy and will close 15 of its 22 stores, reports USA Today. Included in the closings are locations in Chicago, Las Vegas and Seattle.

“Like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand,” said Daniella Vitale, Barneys CEO and president, in a statement.

Five flagship stores will stay open, including locations in New York, California and Boston. Two Barneys warehouses, in New York and California, will remain open.

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