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Authentic Brands Group

Business
Luxury Retailer Barneys Sets Closing Date For Its Stores Luxury Retailer Barneys Sets Closing Date For Its Stores
Luxury Retailer Barneys Sets Closing Date For Its Stores Barneys New York luxury goods stores and its corporate office will officially be closed later this month, costing hundreds of jobs after the company went bankrupt. The once iconic luxury retailer will shutter the doors of 15 stores across the country as of Sunday, Feb. 23, with 719 employees losing their jobs, according to the New York State Department of Labor. According to reports, any employee at the 97-year-old chain who has worked for the company at least two years received five-weeks severance, though workers did not receive accrued vacation time. The closures come after Barneys file…

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by Zak Failla
Business
Retailer Nine West Files For Bankruptcy Retailer Nine West Files For Bankruptcy
Retailer Nine West Files For Bankruptcy Women's clothing and footwear company Nine West announced on Friday that it has filed for bankruptcy, listing debts of more than $1 billion. The company, which owns brands such as Gloria Vanderbilt and Anne Klein, also announced it will sell its Nine West and Bandolino footwear and handbag business to Authentic Brands Group. "This is the right step to address our two divergent business profiles," Ralph Schipani, Nine West Holdings' chief executive officer, said in a statement. "We will retain our strong, profitable and growing apparel, jewelry, and jeanswear businesses and co…

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by Joe Lombardi