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Barneys New York retail store in New York.

Barneys New York retail store in New York.

Photographer: Victor J. Blue/Bloomberg
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Richard Perry’s Bankrupt Barneys Bets Its Future on Madison Ave.

Retailer didn’t have the same cachet outside its home island so it’s closing 15 stores and focusing on the clear winners.

Barneys New York Inc., the upscale clothing retailer with once-famously haughty sales people, has found humility.

After filing for bankruptcy Tuesday, the monument to high fashion said it would rein in its ambitions, closing 15 of 22 stores from Chicago to Las Vegas to Seattle. The victim of high rents and online competition, Barneys said it secured $218 million in financing and will continue to operate until it finds a buyer.