Barneys New York to close all stores

Business

NEW YORK CITY (CNN) – The retail world is losing another giant.

Iconic luxury department store Barneys New York is closing all of its locations.

Barneys filed for bankruptcy protection in August.

Court records were filed on Wednesday.

The retailer initially announced it would close 15 stores but would leave 7 open.

But now all of those locations will shut down, including the Madison Avenue flagship store.

The brand isn’t totally going away.

Saks Fifth Avenue and Authentic Brands will buy Barneys’ name and other assets.

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