Great American and Tiger Capital have announced that luxury speciality retailer Barneys New York will soon begin a liquidation sale.
The store closing sales will start at the five flagship Barneys New York stores and Barneys Warehouse locations. It is being conducted in conjunction with Barneys’ Chapter 11 filing.
In August, the retailer received approval for all ‘First Day’ motions filed under Chapter 11 in the US Bankruptcy Court for the Southern District of New York.
The merchandise in Barneys includes designer clothing, shoes, handbags, accessories, jewellery, cosmetics, fragrances, and gifts for the home.
The sale will cover a wide range of luxury goods and fashion for men, women and children.
The retailer has also planned to organise exclusive private sales for its loyal customers.
Great American Group Retail Solutions president Scott Carpenter said: “Barneys is a cultural institution synonymous with high-end fashion, creative style and grace.
“This is a once-in-a-lifetime opportunity for its most loyal customers to buy items that rarely go on sale at markdown prices. We encourage shoppers to visit their nearest Barneys location to take advantage of this sale before this highly exclusive merchandise sells out.”
Later last month, New York-based brand management company, Authentic Brands Group (ABG) agreed to acquire Barneys New York.
Under the agreement, ABG will acquire Barneys New York and its associated intellectual property.