We went to Barneys right after liquidation sales began and saw the measly discounts that have prompted complaints from shoppers

Bethany Biron/Business Insider

Not so much of a bargain here.

• Barneys New York began liquidation sales this week, both in its seven remaining stores and online, after the company was sold to Authentic Brands Group in bankruptcy court last week.
• Despite buzz over the sales, many shoppers took to social media to scoff at the meager discounts, as most items are priced at just 5-10% below their original cost. According to a Barneys spokesperson, the discounts will increase in the coming weeks, and "every last item will be sold."
• We visited the Barneys flagship store on Madison Avenue and noticed a confusing array of sales.
• Visit Business Insider's homepage for more stories.

Barneys New York officially kicked off its liquidation sale this week, but some shoppers are unimpressed with the discounts.

Sales began in stores and online just a few days after the iconic luxury retailer sold to Authentic Brands Group in bankruptcy court, a deal that will effectively shutter all remaining stores. In the wake of the announcement, Barneys enthusiasts expressed sadness for the loss of a New York institution, while others prepared excitedly for the sales.

However, it didn't take long for shoppers to take to Twitter to scoff at the 5% markdowns and bemoan the store for its pridefulness and "preciousness." Further exacerbating matters, many items from LVMH-owned fashion brands currently remain full price.

According to a Barneys spokesperson, discounts will rise in the coming weeks before the liquidation sale culminates at the end of the holiday shopping season.

"Every last item will be sold," the spokesperson said, noting that shoppers should visit brick-and-mortar locations for additional promotions.

"As with the nature of this kind of sale, discounts typically start low and progressively deepen," the spokesperson said. "So shoppers can expect deeper discounts as inventory sells out."

We visited the Barneys flagship store on Madison Avenue on Thursday afternoon, and it's clear the luxury department is aiming to maintain appearances. In certain areas, it was impossible to decipher whether sales were happening at all - signs were arbitrarily placed or completely blank, and some sales associates seemed unsure about the discount amounts.

Regardless, there's no doubt the retailer is aiming to go out with style and aplomb. Here's what it was like.