High-end clothing store Barneys recently unloaded some of their financial woes and is considering opening up a store in Brooklyn.
Like every other store, Barneys has had to endure a ton of financial difficulties in the last year and lost a lot of money. They weren’t paying all of their pills on time, forcing their parent company, Istithmar, to pump $25 million into the chain, despite their own financial problems. However, last month, billionaire Ron Burkle proved his faith in the store by purchasing a huge chunk of their debt, despite the fact that he got it for 60 cents on the …continue reading
