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Hello, game-changer: Crain's reports that Barneys is shopping around for a location in brownstone Brooklyn. While the company wouldn't discuss details, "sources close to the situation" told the business paper that Barneys is searching for a place to open a Co-op, and real estate experts suggest that they'll wind up on Atlantic Avenue near Steven Alan and Jonathan Adler. Barneys hasn't opened a New York store in five years, so this is a bold move, especially since its Dubai-based parent company Istithmar is still struggling with debt. Crain's sees it as a good sign for the department store's financial situation; we see it as a terrible sign for the financials of local Brooklynites, who will no longer be protected by an F train ride from serious spending.
· Making book on Barneys [Crain's]
· Happy Holidays at Barneys: Sales Rise, Simon Doonan Plans Elf Video [Racked]