Barneys considers bankruptcy or sale as 'luxury is in the tank'

Barneys New York could be headed for a second trip to bankruptcy court, or into the hands of a Canadian department store company.

A Bloomberg report Tuesday says the fashion-forward department store is considering a reorganization, and its options could include a bankruptcy filing, as well as a takeover by a joint venture between an investment group and the Canadian department store chain Holt & Renfrew.