According to the New York Times, the 96-year-old retailer is being "sold for scrap." Much to the chagrin of its loyal fan base, the Barneys name has been acquired by Authentic Brands Group (which also owns Nine West and Juicy Couture) and is expected to be licensed by Saks Fifth Avenue, among others. Saks is reportedly planning to create "shop-in-shops" for the legacy brand.