United States

Barneys ‘schlockfest’ hurting traffic to Freds restaurant

Ever since the liquidation of Barneys began, a quiet, uncomfortable question has gripped Midtown’s power-lunching set: What about Freds? During the holidays, snooty shoppers griped that the luxury icon looked more like Sears or Kmart as the once-stately Madison Avenue flagship got plastered with garish orange-and-yellow signs hawking “Everything 30% to 50% off”. Less noticed, however, has been the fact that Freds — a longtime, go-to spot for titans of industry like Jon Tisch and Corcoran Chief Executive Pam Liebman — is only accessible through elevators in the Barneys lobby. Faced with chaotic crowds rummaging through bins of cashmere sweaters and scarves — now 60 and 80 percent off — fewer bankers, lawyers, real-estate ...