What: the reopening of a bankrupt US department store

Why it is important: Barneys New York filed for bankruptcy last year. After being bought out it will be reopening small outposts, including one inside an existing department store

After filing for Chapter 11 bankruptcy protection in August 2019, department store chain Barneys New York was acquired by Authentic Brands Group ABG and B. Riley Financial Inc. in November 2019. All stores entered liquidation and were closed.

Now ABG is planning to reopen two first stores early 2021. One will open inside Saks Fifth Avenue NYC’s flagship store -it was supposed to make its comeback last September as a boutique on the fifth floor of the Saks flagship, but it was delayed by the health crisis. A second small standalone shop will open in Connecticut. Fred, the restaurant within Barneys, will also be resurrecting sometime next year.

ABG has licensed Barneys’ name to Saks to run websites, pop-ups and the store inside Saks’ flagship location. ABG has six Barneys stores in Japan and plans to expand it into China and Korea in the next two years.

Barneys Returning to NYC Next Year Inside Saks Fifth Avenue