Barneys Ends Online Sales as It Prepares for New Ownership
Barneys Ends Online Sales as It Prepares for New Ownership
(Bloomberg) -- Barneys New York Inc. has stopped offering clearance merchandise on its websites, which now redirect to Saks Fifth Avenue’s sites.
The retailer suspended closeout sales on Barneys.com and Barneyswarehouse.com sites and is transferring the remaining goods to Barneys stores slated to close, according to a representative for B. Riley Financial Inc., the firm handling the liquidation sales. Clearance at those stores will continue through January and possibly into early February, the person said.
Barneys, which filed for bankruptcy in August, is closing most of its stores after Authentic Brands Group LLC won court approval to buy it. Authentic, which owns and operates consumer and celebrity brands, plans to open Barneys shops inside about 40 Saks Fifth Avenue stores. Users who type in the previous Barneys domain names now see pages reading Barneys at Saks or Saks Off Fifth.
A representative for Authentic didn’t immediately respond to a request for comment.
As the holidays kicked off, Barneys stepped up its discounts to about a third off, an almost unheard of reduction in the luxury world.
To contact the reporter on this story: Lauren Coleman-Lochner in New York at llochner@bloomberg.net
To contact the editors responsible for this story: Rick Green at rgreen18@bloomberg.net, Nicole Bullock, Lisa Wolfson
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