In the bankrupt luxury icon’s hometown, 719 employees will lose their jobs as it shutters its flagship at 660 Madison Ave., its Chelsea store at 101 Seventh Ave. and its outlet at Woodbury Common in Central Valley, NY, according to a government filing on Thursday.
The 97-year-old swanky retailer’s corporate offices at 575 Fifth Ave. also will close in 10 days, the filing said. The company’s other remaining stores in Beverly Hills, Calif. and San Francisco also will close Feb. 23.
Bargain hunters at the Madison Avenue flagship have lately been confronted with garish, orange-and-yellow signs hawking discounts that look more like something out of Sears or Kmart than a luxury retailer.
While sweaters, scarves and handbags are getting sold out of bins, racks and shelves are either mostly picked over or empty. Store fixtures including chairs and display tables are also marked with price tags.
“Good buy, then Goodbye! 90% off lowest ticketed price!,” blared one sign over a lonely smattering of boots and flats in the footwear section.
“Nothing held back,” said another that was pinned over a nook littered with plastic bins full of toiletries.