World News: 20:56 GMT Saturday 13th July 2019. [Yahoo Business News Feed via SPi World News]
U.S. luxury department store Barneys New York Inc is exploring a bankruptcy filing as it struggles with high rents and changing consumer tastes, people familiar with the matter said on Saturday. The nearly 100-year-old department store, known for its high-end designer collection, is working with law firm Kirkland & Ellis LLP to prepare for a potential bankruptcy filing that could come in the coming weeks, one of the sources said. Barneys 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 cautioned.
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