Ooops! The High-Roller’s Retail LBO Goes BK On Too Few Birkin Bags, Too Much Rent And Debt

Ultra luxury department store chain Barney’s probably did not use a plush, Louis Vuitton letter pouch in which to submit its Chapter 11 filing at Bowling Green yesterday, but the result is the same: the iconic Madison Avenue store officially filed for bankruptcy protection and laid out its plans to shut down most of its stores, according to Bloomberg. The company cited rising rents and fewer visitors to its stores as the reasons for its restructuring.