Steve & Barry's going bankrupt?

SouthShoreGirl · 07-09-2008, 01:47 AM

I know there were some threads on here how some of us like this store for the low prices. I heard a little blurb on the news last night that it may be going bankrupt..........anyone else hear this? (Gotta say I only caught the tail end of the story).

indieretailer · 07-09-2008, 08:09 PM

I'm sorry that I don't remember where I read the article on a potential bankruptcy---either Wall Street Journal or The New York Times.

I believe they have defaulted on a large loan. Their sales at stores after their first year were up 20%. But their profit margins are miniscule.and are even smaller now that they must share profits with the licensees Bitten/SJP, Venus Williams, etc.

Steve & Barry can fold but Sarah Jessica Parker can walk away and sign a deal with someone else. The licensed lines do not necessarily come with any buyout deal.

It seems that S&B are looking to Sears/Kmart to buy them out, but Sears is not in the best financial situation to begin with.

Will · 07-09-2008, 08:28 PM

S&B is a great store with great prices. I'm sorry to see it go.

When I told one of my friends about this, she said "well I guess their $7 t-shirt sale went on a bit too long." (I hate myself but I laughed.)

rstlne · 07-10-2008, 06:20 AM

Steve & Barry's seeks bankruptcy protection

I knew their $8.98 sale was too cheap! Seriously, I'll miss them. The S&B store at Palisades Center was the cheapest place for me to get size 16 shoes.

07-09-2008, 01:47 AM	#1
SouthShoreGirl Member Join Date: Jul 2008 Location: Long Island, NY Posts: 58 Reputation: (10)	Steve & Barry's going bankrupt? I know there were some threads on here how some of us like this store for the low prices. I heard a little blurb on the news last night that it may be going bankrupt..........anyone else hear this? (Gotta say I only caught the tail end of the story). __________________ http://longbeachbabe.blogspot.com/

07-09-2008, 08:09 PM	#2
indieretailer Member Join Date: Jan 2008 Location: San Diego Posts: 71 Reputation: (11)	I'm sorry that I don't remember where I read the article on a potential bankruptcy---either Wall Street Journal or The New York Times. I believe they have defaulted on a large loan. Their sales at stores after their first year were up 20%. But their profit margins are miniscule.and are even smaller now that they must share profits with the licensees Bitten/SJP, Venus Williams, etc. Steve & Barry can fold but Sarah Jessica Parker can walk away and sign a deal with someone else. The licensed lines do not necessarily come with any buyout deal. It seems that S&B are looking to Sears/Kmart to buy them out, but Sears is not in the best financial situation to begin with. __________________ Jennifer (and John) www.DollarCardMarketing.com - Customized $100 Dollar Bill drop cards for your business.

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07-09-2008, 08:28 PM	#3
Will Administrator Join Date: Jan 2007 Posts: 343 Reputation: (19)	S&B is a great store with great prices. I'm sorry to see it go. When I told one of my friends about this, she said "well I guess their $7 t-shirt sale went on a bit too long." (I hate myself but I laughed.)

07-10-2008, 06:20 AM	#4
rstlne Senior Member Join Date: Jan 2008 Location: New Jersey Posts: 364 Reputation: (115)	Steve & Barry's seeks bankruptcy protection I knew their $8.98 sale was too cheap! Seriously, I'll miss them. The S&B store at Palisades Center was the cheapest place for me to get size 16 shoes.