Barneys New York is a chain of luxury department stores headquartered in New York City. It started as a discount retailer in the 1930s, but morphed into a luxury brand retailer in the 1980s. In the early 1990s Barneys expanded and opened 30 stores outside of its New York base. Over-burdened with debt, the company filed for Chapter 11 bankruptcy in 1996 and closed stores in several locations across the country and abroad. The majority interest of the company is now owned by Perry Capital which has substantially reduced the company’s debt in an attempt to make it profitable.