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.READ MORE: Man Killed, 2 Injured In Violent Gardena Crash
The chain has been plagued with problems lately, primarily not being able to afford rent on stores that lost foot traffic from online shopping.READ MORE: Residents Say Strong Stench In Carson Keeps Getting Stronger
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:
- Cabazon: 48650 Seminole Drive, Desert Hills Premium Outlets
- Camarillo: 850 East Ventura Blvd., Camarillo Premium Outlets
- Carlsbad: 5620 Paseo Del Norte, Carlsbad Premium Outlets
- Glendale: 869 Americana Way, The Americana at Brand
- Los Angeles: 189 The Grove Drive
- Santa Monica: 395 Santa Monica Place
California locations in Beverly Hills, San Francisco, and Livermore will remain open.