NEW YORK: Barneys New York Inc. filed for bankruptcy protection from its creditors after getting squeezed by rising rents and fewer visitors to its luxury fashion boutiques.
The chain listed estimated liabilities of between $100 million and $500 million, according to federal court papers filed in U.S. Bankruptcy Court for the Southern District of New York. The move had been telegraphed for several weeks as the chain sought to avert bankruptcy by finding a partner or buyer.
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