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Is it Time to Start Worrying About Barneys?

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There is a long, very trade-magaziney piece in today's Women's Wear Daily about Barneys. The gist of the article is that the luxury department store is in a lot of trouble. There's no one in charge ("Since the departure of former ceo Howard Socol, the store is being run by a committee of five veteran executive vice presidents on the merchandising, marketing and financial sides"), new owner Istithmar has been trying to unload the chain for months and no one is biting, and the financial middle men Barneys relies on to buy merchandise (called "factors") aren't approving Barneys' spring orders.

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