Everything we know about Barneys liquidation sale.
Now that the Barneys New York bankruptcy battle is finally resolved, the question on every fashion-oriented person’s mind is, when is the liquidation sale?
The retailer, which filed for Chapter 11 bankruptcy protection in August, finally found a new owner on Friday in the Authentic Brands Group, buying the historic New York retailer for $271 million. ABG has plans to keep Barneys’ Madison Avenue flagship open for the next year as an experiential pop-up store format, but bring the Barneys name over exclusively to Saks Fifth Avenue as its retail partner.
Read More: The Fashion Community Weighs in on Barneys’ Sale With Friday’s bankruptcy deal, Barneys has already begun its sale, which ABG chairman and chief executive officer Jamie Salter called “transition sales” or “non-store-closing sales” instead of liquidation sales. However, these sales are currently a meager 5 or 10 percent off merchandise across categories — according to the Barneys web site — which, considering the steep prices of its designer offerings, doesn’t account for much savings.
I don’t know what the increases will be over time but anything under 50% is not a sale. SFA was already at 40-50% last week for pre-sale. Barneys is selling you the same goods at 5% off. That’s not even tax. This is also a quick lesson on Barneys not knowing the market. Barneys lied to the girlz about a sale. Anything under 50% is a cute gesture but it isn’t a sale lolol.
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