Barneys, with its iconic Manhattan flagship store, announced plans to close half of its 10 signature stores plus five concept stores and seven of its nine Barneys Warehouse stores as it sought a buyer.
Farfetch has been in negotiations with Barneys since before the Chapter 11 filing, but talks have been getting more serious recently, according to the report.
However, Farfetch denied the report in a brief statement posted on its website.
“The story is incorrect — Farfetch is not acquiring Barneys New York,” the company said.
Rent at Barneys’ Madison Avenue store nearly doubled from about $16 million to $30 million this year. Barneys has said it would keep that location through its bankruptcy.
The Post reported the Madison Avenue location’s landlord, Ashkenazy Acquisition, has tentatively agreed to lower the store’s rent and take back some of the space. If Farfetch did buy the company, it would keep only that flagship store and its Beverly Hills store open, according to the report.
Farfetch went public last year. It sells luxury fashion items from brands like Balenciaga, Dolce & Gabbana and Gucci. It announced in June that it joined the Facebook-backed Libra Association, saying it believes blockchain technology could hold applications in the fashion industry.