Barneys files for bankruptcy - WSIL-TV 3 Southern Illinois

Barneys files for bankruptcy

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(CNN) - Luxury department store Barneys is filing for bankruptcy.

The high-end retailer, based in New York, has been an icon of America's luxury clothing world for decades, but the company filed for Chapter 11 bankruptcy protection early Tuesday.

Barneys CEO says the company has been hit by high rents and shifting consumer tastes. 

The company is closing a number of stores including those in Chicago, Las Vegas and Seattle.

However, Barneys says it will continue to operate flagship locations in New York, Los Angeles, San Francisco and Boston. 

Its online stores will also stay open. 

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