Featured

Crunch Bankrupt, Barneys Closing Stores

By Roy Edroso Wed., May 6 2009 at 10:42 AM
Categories: Featured, The New Depression
crunchny.jpg
Since we little people are getting screwed in this economy and can't do anything about it, let's refresh ourselves with some schadenfreude at the rich. You wouldn't know it to look at their gleaming facilities, but Crunch Fitness is bankrupt: they filed for Chapter 11 today in Manhattan. They lost $11.2 million last year and, despite their expensive fees, have accumulated a mountain of debt. No word yet on how their gigantic headquarters on West 19th Street, acquired in 2007, figures into this. And though it's still doing luxe celebrity events here in New York, Barneys isn't doing so hot either: the upscale retail giant is closing two out-of-town stores, one in Vegas, another not yet identified. The Wall Street Journal blames a "sharp decline in spending among the wealthiest Americans." Maybe soon every day will be a Barneys Warehouse Sale day. Photo (cc) chang'r.

Email to Friend
Print Article

We Recommend

My Voice Nation Help
0 comments
  Livefyre
Sort: Newest | Oldest
VOICE Daily Deals

From the Vault

 

Slideshows»

©2013 Village Voice, LLC, All rights reserved.
Browse Voice Nation
  • Voice Places New York

    Voice Places

    Find everything you're looking for in your city

  • Happy Hour App

    Happy Hour App

    Find the best happy hour deals in your city

  • Daily Deals

    Daily Deals

    Get today's exclusive deals at savings of anywhere from 50-90%

  • Best Of

    Best Of...

    Check out the hottest list of places and things to do around your city

Join
Log In