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More on the Barneys Spring Merchandise Crisis

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Crain's follows up on this morning's WWD blockbuster with additional info about the "factors" who have put the brakes on Barneys' spring merchandise shipments. "Hilldun Corp., a top factoring firm, has suspended its Barneys accounts for at least a week, essentially halting its varied clients from shipping spring clothes and accessories to the chain during the peak of spring shipping season. Another leading factoring firm, Rosenthal & Rosenthal Inc., is also said to have put a hold on Barney’s spring products. The move...sent ripples through the industry Monday because factoring firms basically insure the payments retailers promise to vendors in exchange for merchandise. As the major factoring firms balk at Barneys, smaller factors and droves of independent vendors are also likely to stop the flow of product." [Crain's; Previously]