The venerable retailer says it is mulling a bankruptcy filing — in large part because of a major rise in its annual rent at its Madison Avenue Flagship location: from $16 million to $30 million store, The Jewish Voice reported. When Ashkenazy Acquisition Corp. bought a trio of Barneys stores in 2001, it worked out a two-decade-long lease for the Madison Avenue locale. The $16 million lease stipulated that the rent could be hiked to accord with fair market value upon renewal. Barneys New York is a luxury specialty retailer renowned for having the most discerning edit from the world’s top designers. Barneys’ signature sense of wit and style is manifested in its creative advertising campaigns, original holiday themes, and celebrated window displays. Today, Barneys New York operates flagship stores in New York City, Beverly Hills, Chicago, Seattle, Boston, San Francisco, Las Vegas and along with a preeminent luxury online store, Barneys.com, as well as 16 other full price stores and warehouse stores across the U.S.
