Steve and Barry`s chain declares for bankruptcyPosted by Inside Hoops
Business Journal of Milwaukee reports: The men’s and women’s clothing store chain Steve & Barry’s will file for Chapter 11 bankruptcy protection, according to a release from the company Wednesday. The Port Washington, N.Y.-based Steve & Barry’s has more than 270 stores across the nation, including nine in Massachusetts. It has one local store at Southridge Mall in Greendale. The company said a number of factors went into the decision, including a liquidity shortfall as a result of credit market volatility and general economic conditions, which, in turn, have impacted the company’s store opening plans and borrowing capacity.
InsideHoops.com editor says: In case you forgot, that’s the chain that sold the Starbury sneakers. Everything at Steve and Barry’s costs around $5-$20 or something like that. I’ve only been in their stores once, for the Marbury launch party back a few years ago which was held in their midtown Manhattan location, pretty close to Madison Square Garden. Seemed like a good store. I guess the prices were too low.