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Luxury Brand Barneys New York Seeks Bankruptcy Protection

PYMNTS

Struggling to compete with online brands, famed Big Apple luxury retailer Barneys New York has put itself up for sale and filed for bankruptcy protection, according to a report by Reuters. . It’s also dealing with a massive rent hike at its headquarters which sent it frantically searching for a buyer. .

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Retail Pulse: FAO Schwarz To Open New Flagship; Amazon Expands Grocery Delivery

PYMNTS

Brick-and-mortar retailers have closed flagship locations in recent times, but sometimes these landmark stores make a comeback. The new store, which will be located at 30 Rockefeller Plaza, will feature multiple experiential retail components. The store will also offer magic shows and a grocery shopping experience designed for kids.

Retail 116
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Retail Reinvention: Why Retail Doesn’t Need Salespeople

PYMNTS

Even if there were a trustworthy way to send money over the internet — which there isn’t — the network is no substitute to the essential ingredient of capitalism — salespeople.”. Take retail salespeople — Stoll’s self-proclaimed cornerstones of capitalism. Service — not sales — is the new human retail touchpoint.

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Saving Main Street: Cities Pick Up The Recovery Role

PYMNTS

While they will lack the sheer financial clout of federal assistance, they are starting to offer strategies beyond capital infusions that will assist in restarting small business when the crisis passes. Boulder, Colorado has been working on strategies to help downtown retailers since before the coronavirus crisis.

Maine 141
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Newly Funded Feather Brings Furniture Subscription To LA

PYMNTS

The company raised $12 million in a Series A funding round, led by Spark Capital, with participation from Kleiner Perkins, Bain Capital Ventures, Y Combinator and Fuel Capital, to name a few. ” Feather has forged partnerships with brands, including West Elm , Casper , Tuft & Needle and Pottery Barn.

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Finastra launches embedded consumer lending solution

Bobsguide

Financial institutions and retail brands gain a new embedded finance platform to help consumers access regulated loans at point-of-sale, powered by Banking as a Service. Finastra is a global provider of financial software applications and marketplaces, and launched the leading open platform for innovation, FusionFabric.cloud, in 2017.

Lending 68
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Blue Nile Adds Fifth Showroom, This One Near Headquarters

PYMNTS

Nearly a year and a half after it opened its first brick-and-mortar store on Long Island, online jewelry retailer Blue Nile has opened its fifth store in Bellevue, Washington, near its headquarters. The business is slated to be acquired by Bain Capital Private Equity and Bow Street LLC next year for $500 million.

Oregon 100