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Bad Business

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Despite all its fabulosity and employing one of the most brilliant, talented fashion teams (hello, we worship Simon Doonan and Julie Gilhart) on earth, our sister site Racked NY reports that Barneys is still kind of in the hole, financially. "Standard & Poors just gave the company a big fat thumbs down and the store's Dubai-based holding company, Istithmar (also the owner of Loehmann's) had to recently inject millions of dollars to save the company. Speculation is that next year, two key creditors including businessman Ron Burkle might make a play for control of the company." [RNY]