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Crazy debt, liquidity issues, in need of a bailout— no, we're not talking about a Real Housewife of New Jersey, the subject matter is Barneys New York. While Barneys' financial problems have been an issue for some time now, the latest news is Standard & Poors just gave the company a big fat thumbs down and the store's Dubai-based holding company, Istithmar (also the owner of Loehmann's) had to recently inject millions of dollars to save the company. Speculation is that next year, two key creditors including businessman Ron Burkle (aka, former Bill Clinton friend, that whole Jared Paul Stern blackmail scandal, numerous lady-friend rumors, etc.) might make a play for control of the company. Such is the ongoing saga of the luxury chain's financial woes, but in the meantime, we'll console ourselves with some retail therapy at the upcoming opening of the Brooklyn Barneys Co-Op.
· Barneys Liquidity Diet [NYP]
· Barneys Co-0p Brooklyn Readies for Fashion's Night Out Opening [Racked]