The American luxury store Barneys is considering bankruptcy

The American group of luxury department stores Barneys New York is exploring various options, including a bankruptcy filing, facing high rents and changing consumer tastes, sources said Saturday.

The nearly 100-year-old retailer, known for its collection of high-end designers, is working with the law firm Kirkland & Ellisto to file a bankruptcy case that could occur in the coming weeks, said one of sources.

Barneys has not yet made a final decision on the opportunity to seek bankruptcy protection and is considering other possible solutions to deal with the high rents that are penalizing its business, the sources warned. . The bankruptcy filing would be an option to deal with expensive leases, the sources said.

The retailer's flagship department store on Madison Avenue in Manhattan has weighed on its finances, said one of the sources.

"At Barneys New York, our customers remain our top priority and we are committed to providing them with the excellent services, products and experiences they expect," said the company.

"We continue to work closely with all of our business partners to achieve the goals we have set for ourselves and maximize value, and to this end, our board of directors and management are actively evaluating opportunities to strengthen our balance sheet and to ensure the sustainability and sustainability of our growth and the success of our business, "added the company.

In the event of bankruptcy, Barneys would be one of the most prominent casualties of the retail slowdown and would point out that even luxury department stores are not immune to fierce competition with such e-commerce companies as than Amazon.

Sears, Toys "R" Us and Gymboree Group have also filed for bankruptcy over the past year.

In addition to its high-end department stores, Barneys operates Barneys Warehouse outlets and Freds restaurants. In all, Barneys has 28 branches, according to its website. Beverly Hills, California; Chicago; Seattle; Boston; San Francisco; and Las Vegas.

Barneys became known in the 1930s by placing women dressed in caskets in front of the breweries of New York City, where they were distributing matchbooks advertising the store, according to the retailer's website.

The store, now known for its exclusive clothing made by designers such as Burberry, has started as a destination for families of the middle clbad. He went into luxury fashion in the 1960s.