Liquidation sales to begin 'soon' at all Barneys’ stores
Barneys New York has begun its final wind down.
Great American Group, a B. Riley Financial company, and Tiger Capital Group said that store-closing sales will soon begin at Barneys’ five flagship stores, including its iconic Madison Avenue outpost, and its two warehouse. The retailer’s “most loyal customers” will be offered exclusive private sales starting next week. Sales will also be held online.
A deal by licensing firm Authentic Brand Group to buy Barneys’ brands and other intellectual property closed on Friday. ABG plans to convert the Madison Ave. site into what it called “a pop-up retail experience, bringing together an eclectic curation of boutiques, art and cultural installations and exhibits, and entertainment that fosters creativity and community.” It also plans to keep the store’s popular restaurant, Fred’s, open, and license out the Freds name to luxury developments abroad.
Barneys’ liquidation sale is expected to last for a limited time as Great American and Tiger work to “quickly sell through all inventory during the upcoming holiday season.”
"Barneys is a cultural institution synonymous with high-end fashion, creative style and grace,said Scott Carpenter, president of retail solutions with Great American Group. “This is a once-in-a-lifetime opportunity for its most loyal customers to buy items that rarely go on sale at markdown prices.”
Barneys New York flagship locations include:
- Madison Avenue in Manhattan;
- The Chelsea district of Manhattan;
- Beverly Hills, Calif.;
- Union Square in San Francisco; and
- Copley Place in Boston.
Barneys Warehouse stores are located at Woodbury Common, Central Valley, N.Y., and San Francisco Premium Outlets, Livermore, Calif.