Steve & Barry’s, the super cheap clothing store that’s like H&M with all the Euro-DNA removed, has filed for Chapter 11 bankruptcy. Analysts say it has to do with declining credit markets throwing it into a liquidity crisis, higher commodities and fuel prices, and oh yeah, razor-thin margins on those $9 sneakers. [Marketwatch]
By cwalters July 10, 2008
More From Consumerist
- Yep, RadioShack Declared Bankruptcy Today
- Historic A&P Grocery Chain Files For Bankruptcy Again, Plans To Sell Or Close Locations
- Wet Seal Files For Chapter 11 Bankruptcy Protection, Shocking No One
- AT&T, DirecTV To Take Over Comcast SportsNet Houston; Will Fans Finally Be Able To See Games?
- SkyMall Files For Bankruptcy Because You’re Not Buying Enough Inflatable Movie Screens