Barneys gave many emerging fashion designers a significant boost. Now that it’s gone, young brands are warily preparing for a different future.
WHEN THE ONCE-MIGHTY fashion retailer Barneys New York declared bankruptcy in August, court documents revealed that some of the industry’s most vaunted labels were among its biggest creditors. The store owed roughly $2.7 million to Celine, $2.2 million to Saint Laurent, $2.1 million to Balenciaga and $1.
9 million to Givenchy in outstanding payments for merchandise. Earlier this month, a bankruptcy judge approved the sale of the store’s intellectual property to the New York-based fashion conglomerate Authentic Brands Group . B. Riley Financial purchased the remaining Barneys inventory and almost immediately began...
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