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Barneys UES flagship will stay open for now, despite brand’s downfall

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Plus, the Flatrion Building prepares for a facelift—and more intel in today’s New York Minute news roundup

Luxury Retailer Barney’s New York Mulls Bankruptcy Filing According To Reports Photo by Drew Angerer/Getty Images

Good morning, and welcome to New York Minute, a new roundup of the New York City news you need to know about today. Send stories you think should be included to tips@curbed.com.

RIP, Barneys

Pour one out for one of the grand dames of the city’s high-end shopping scene: Barneys, which has been embroiled in bankruptcy proceedings for some time now, was “sold for parts” on Friday, according to the New York Times. The winning bidder was Authentic Brands Group, which—true to its very bland name—owns several well-known brands, including Juicy Couture, Nine West, and, improbably, the estates of Muhammad Ali and Elvis Presley.

While many of its remaining stores will close, with their remaining inventory sold at major dales, the brand’s flagship store at 660 Madison Avenue will remain open for another year, according to the Real Deal—albeit in a pared-down form. The current 275,000-square-foot space will downsize, though the details of what that might look like weren’t readily apparent. But in the future, according to the Times, it will become a four-floor pop-up with “entertainment that fosters creativity and community.”

The news comes nearly a year after the demise of another prominent New York City department store; Lord & Taylor’s Fifth Avenue flagship closed in January, after WeWork bought the building. (That deal is now being scrutinized in the wake of WeWork’s troubles.)

And in other news...