Barneys New York Inc. began liquidation sales Friday at all of its stores, including the company’s flagship Manhattan location, which will remain open but without the Barneys name, WSJ Pro Bankruptcy reported. The company’s new owner, Authentic Brands Group LLC, will keep the Madison Avenue flagship open for another year, but within a few months it will no longer be a Barneys. Instead, the space will be converted into pop-up shops for high-end fashion houses and cultural attractions, Authentic Brands CEO Jamie Salter said in an interview. Authentic Brands completed its purchase of the luxury department-store chain on Friday after other potential last-minute bids fizzled, clearing the way for the licensing company to begin going-out-of-business sales at the seven remaining Barneys stores. Under a partnership with Saks Fifth Avenue, Authentic Brands is creating a new Barneys inside a newly renovated Saks department store in Manhattan. Saks will also take over and manage Barneys’s Boston location after the liquidation sale ends, Salter said.
