townhouses and two larger adjacent buildings across the store along 17th Street. The addition included a unisex beauty salon and restaurant, antiques, and accessories, gifts, and housewares departments. It accounted for about one-third of Barneys' sales of some $90 million the following year. In 1988, Barneys opened a men's store in the World Financial Center. The store abandoned its Seventh Avenue flagship in 1993, moving to a , Kohn Pedersen Fox-designed Manhattan store on Madison Avenue at East 61st Street. It was the largest new store in New York City since the Great Depression. The building has 22 floors with 14 floors of offices above the nine-story store. The wood floors, a marble mosaic on the lobby floor, gold-leaf ceilings, and lacquered walls of the new Barneys store cost $267 million. In 1989, the store formed a holding company with Japanese department store Isetan to operate stores in both countries. The first Tokyo store opened in November 1990. The agreement also called for the holding company to spend $250,000 to open 30 smaller stores of approximately . The earliest of these smaller format stores opened in Costa Mesa, California in 1990. Barneys opened its first department store outside Manhattan in Chicago, in 1993, followed by another large store in Beverly Hills, California, in 1994. 1996 bankruptcy In 1995, the Pressman family intended to close the investment relationship with Isetan consolidating the Barneys retail business and Isetan investment in the United States real estate for the Barneys flagship stores in New York, Chicago, and Beverly Hills. At the conclusion of this consolidation, the real estate investment and the retail businesses would be held in one company. During the consolidation effort, Isetan's final funding of the real estate investment was intended to be processed through a Pressman family holding company, PREEN (Pressman Robert Eugene Elizabeth Nancy) and then directed to the real estate development. Instead of the funds flowing directly through the holding company to the real estate investment, they were given in exchange to BNY Licensing (another Pressman family company that held the Barneys trademarks) for the projected 50 year royalty stream due BNY Licensing from Isetan for their Barneys Japan business. Isetan was unaware of this transaction at the time. Isetan had reported their investment in Barneys earlier in the year as a current asset expressing their intent and belief that it would be concluded in 1995/first quarter 1996. Isetan