FASHION RESCUES

Barneys Gets a $10 Million Bailout

It’s good to know one company won’t be floundering during the rest of the recession. Recently cash-strapped Barneys New York is getting a little love from its parent company, the Dubai-located Istithmar World Capital, to the tune of $10 million. Isithmar might be regretting its 2007 purchase of the glossy big name—while the store was booming then, now people are more hesitant to drop thousands on their purchases. Barneys recently cut 76 jobs and is somehow functioning without a CEO. The New York Post reports that the extra cash will help ease its credit crunch and convince factors, which pump inventory, to keep supplying the store.