In August Barneys stores announced that they were closing fifteen locations. This week the company announced that they would be shutting down their remaining seven stores, including the Barneys New York Warehouse in Central Valley. Seven-hundred-and-eighty-five Barneys employees will be laid off on November 1. Five locations in New York will shut their doors including the company's flagship store on Fifth Avenue. The Barneys store in Copley Place in Boston will also close.

Authentic Brands Group and investment firm B. Riley Financial are buying the Barneys name and other assets out of bankruptcy in partnership with Saks Fifth Avenue. Saks would then create Barneys shops within its own stores.