The 96-year-old luxury retailer filed for Chapter 11 bankruptcy protection in the early hours Tuesday — the second time in its history — after scrambling to find financing last month. The retailer, which is planning on closing 15 of its 22 doors, has more than 5,000 creditors, including The Row, Celine Inc., Yves Saint Laurent America Inc., Gucci, Prada and more.
After news broke, the retailer shared a photo of a Barneys shopping bag, captioning it with: “trends come and go, but institutions are timeless.”
Others have also taken to social media to share their reactions to Barneys’ bankruptcy, with most hopeful for an upcoming blowout sale at the retailer.
Read on to see some of the best social media reactions.
Lmao me adding shit to my barneys cart waiting for this liquidation sale pic.twitter.com/uRONQqOLXL
— gregory (@bydummyz) August 5, 2019
Hard to believe that Barneys is preparing to file for bankruptcy. pic.twitter.com/UCRk6lHq3g
— Paolo (@2aolo) August 5, 2019
Literally, two weeks ago someone called me and asked me if I wanted to partner with him and buy Barneys. If I had the time to think this idea through, it might have been worth considering. But I was getting only double talk OR radio silence from management there. Frustration.
— gary wassner (@gary_wassner) August 3, 2019
ME: OMG, Barneys filed for bankruptcy?! How can that be?! They're a New York staple!
Also ME: *Sees something fabulous at Barneys .com, finds it cheaper on Amazon.
— Cooper Lawrence (@CooperLawrence) August 6, 2019
2019 is already cancelled but if Barneys doesn’t call their closout sale ‘Weekend at Barneys’ I’m gonna uncancel 2019 and cancel it again on principal.
— Seth Goodtime (@SethGoodtime) August 6, 2019
Read more here:
WATCH: Blue Ivy’s Stylist Takes Us Inside His World