Our favorite struggling department store, Barneys New York, got more bad news this morning: Its parent company, Istithmar, is going to have to pump another undisclosed amount of cash into the debt-ridden retailer. (That’s according the the NY Post.)

Istithmar, a Dubai-based private equity firm, bought Barneys three years ago for way too much money–$942 million–and the value of the retailer has continued to decrease. While luxe department stores like Neiman Marcus and Bergdorf Goodman have been able to bounce back (even just a little) from the recession, Barneys continues to struggle.

And it’s not for lack of a great brand and great clothes. The problem still goes back to this: No one is running the business.

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