BEVERLY HILLS (CBSLA) — Barneys New York was once an icon for America’s luxury clothing world. Now the retailer has filed for Chapter 11 bankruptcy protection.

The filing will allow the New York-based department store to hold sales, review current leases, and optimize operations.

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The chain has been plagued with problems lately, primarily not being able to afford rent on stores that lost foot traffic from online shopping.

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The company says it will look for a buyer that will keep five of its flagship stores, including their location in Beverly Hills.

Barneys is set to close 15 of their locations including the following Southern California locations:

  1. Cabazon: 48650 Seminole Drive, Desert Hills Premium Outlets
  2. Camarillo: 850 East Ventura Blvd., Camarillo Premium Outlets
  3. Carlsbad: 5620 Paseo Del Norte, Carlsbad Premium Outlets
  4. Glendale: 869 Americana Way, The Americana at Brand
  5. Los Angeles: 189 The Grove Drive
  6. Santa Monica: 395 Santa Monica Place
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California locations in Beverly Hills, San Francisco, and Livermore will remain open.