Barneys New York evaluating restructuring options

Business

A crane operator works equipment on a roadway near Barneys department store, Tuesday July 16, 2019, in New York. The luxury retailer could be joining a growing list of retailers that have filed for bankruptcy. (AP Photo/Bebeto Matthews)

NEW YORK (AP) — Barneys New York may soon join the ever lengthening list of retail stores seeking protection in bankruptcy.

The luxury clothing company, faced with high rents and a shifting consumer landscape, is evaluating options that may include a bankruptcy filing. That’s according to a source close to the matter who asked to remain anonymous because the discussions are confidential.

The company has nearly a dozen locations, mostly in the swankier districts of cities like Boston, Beverly Hills, California, and New York.

High-rent retailers like Barneys now compete with online luxury players like Net- a-Porter and the RealReal.com, which don’t have need to maintain flagship stores.

Reuters first reported that Barneys was evaluating bankruptcy options.

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