Double Tap to Zoom

After filing for Chapter 11 bankruptcy on August 6, Barneys has taken to Instagram to reassure the public that it is not closed.

The statement reiterates the company's financial struggles, its voluntary bankruptcy, as well as its commitment to remaining open. The caption reads, “Two Words: NOT CLOSED.” Read the full statement below. 

Bloomberg reports that the department-store chain filed for bankruptcy protection from creditors and detailed plans to close the majority of its stores in the face of rising rent and diminished sales.

In a statement issued last month, Chief Executive Officer Daniella Vitale explained that “like many in our industry, Barneys New York’s financial position has been dramatically impacted by the challenging retail environment and rent structures that are excessively high relative to market demand.”

Five full-line Barneys locations will remain open; Beverly Hills, San Francisco, Boston, and its two New York stores. According to Business Insider, it will close 15 of its 22 stores.

We Recommend
  • Drip in Style: 11 Umbrellas We Want This Season
  • Sam Ben-Avraham Tells Us How He Plans to Save Barneys
  • KITH Co-Founder Preps $220 Million Bid to Buy Barneys New York
What To Read Next
  • adidas’ 20-Year-Old Boots Have Teeth but No Spikes
  • New Balance's Slimed-Out Dad Shoe Is a Real Techy Alien
  • Liberty London Is Behind This Flat & Flowery adidas Gazelle
  • Jonathan Anderson's Dior Remade the Messenger Bag
  • Pretty Japanese Florals Cover Nike's Spring-Themed Air Force 1
  • Nike's Iconic Soccer Cleat Is Even Better as a Sick Air Max Sneaker