Just in time for the opening of the new Barneys New York on Oak Street Thursday comes the news that Standard & Poor's cut its ratiing for the company from a B minus to CCC. Even with a recent decision by the Dubai investment company that owns it to infuse it with millions of dollars, it's facing a lack of liquidity--which means nervous vendors might start limiting their shipments. That might make it harder for you to find those Balenciaga sandals you've been lusting after. (Oh, wait, that was me.)
The new store, located at 15 E. Oak Street, just across the street from its original location, is nearly double the size and has a top-floor restaurant called Fred's (get it?). Stop by Thursday for champagne and doughnuts.