Steve & Barry’s is in Bankruptcy, and the Big 3…
steve & barry’s
Sidd snapped this photo at the Palisades Mall in West Nyack, NY over the weekend. “Flexible hours” in this case might mean a lot of free time very soon.
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]