It’s official: Authentic Brands Group now owns Barneys New York. The management company, which bid roughly $271 million for the famed department store, purchased it “for parts” and will likely close the majority of its stores, threatening more than 2,000 jobs. New York’s former luxe shopping destination filed for bankruptcy protection in August, struggling against online shopping and soaring rent increases, and held out hope until the last minute that another buyer would emerge. Barneys’ chief executive resigned on Friday, saying she was “deeply sorry” to her employees over the company’s fate.
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