Man I freaking loved this place. Shirts, pants, hats, etc. all for $8. At least all of the stuff is going to be extra cheap for the next month or two. I'm going this week, probably more than once. http://biz.yahoo.com/ap/081126/steve_barry_s_liquidation.html?.v=1 NEW YORK (AP) -- Steve & Barry's said Wednesday liquidation sales of its 173 remaining stores across the country are beginning this week and expected to last five to seven weeks, with some stores closing sooner. The inventory to be liquidated is worth about $250 million, the company said. The apparel retailer, which filed for bankruptcy in July, said in bankruptcy court filings last week that it was scrapping plans to remain open. The investment firms that bought the Port Washington, N.Y., company in August had planned to close 97 stores and keep operating with a smaller base. Going-out-of-business sales will be conducted by a joint venture group of Great American Group LLC, SB Capital Group LLC, Tiger Capital Group LLC, and Hudson Capital Partners LLC. These going-out-of-business sales will give the general public, as well as the thousands of loyal Steve & Barry's customers, an opportunity to acquire brand name and licensed apparel at greatly reduced prices," Scott Bernstein, chief executive of SB Capital. Steve & Barry's, which forged a name for itself selling low-priced fashion endorsed by celebrities including Sarah Jessica Parker, NBA star Stephon Marbury and others, fell victim to the deteriorating consumer spending climate.
btw...if you ever walked in to one of these places you know why they failed. way too much space. way too much inventory. way too much overhead. the very first time i walked in i told my wife, "it's a shame it won't be here long."
Great place could have been something special. But it was full of a lot of unsold products. I went there for my Texas Tech spending spree, still cameback with a lot of left over cash.
damn, loved this place, I own like 5 pairs of Marbury/Wallace shoes, and not because they messed up on me, I still wear all 5 today
I read an article in the WSJ about them. I'm glad they went out of business. What a bunch of scam artists. Here's the summary of the article. They opened a few stores and got real popular. So they started leveraging that with new store openings. They would go to a mall owner for example and say 'Give us $2mil up front for renovations and we'll anchor your mall'. And based on their up and coming 'hipness' the malls would relent because they'll give up money to big players so they can charge their smaller stores more for having a 'solid' anchor. What S&B would do then is only use $500k-1mil of that for example and put the other $1mil in their pocket. Then they would turn around and show their investors how awesome they are doing. They would do this over and over. Well, it would turn out that they made all of their money from this and not from actual store sales. And when the jig was up they came tumbling down.
where oh where will Sarah Jessica Parker hawk her latest line of whatever it is she is selling these days?
Whenever I go to Steve and Barry's, I feel like a kid at the candy store. West Oaks and Alameda are still open. Here's an updated list of places and the super liquidation sale they're having: http://www.steveandbarrys.com/liquidation.aspx
Sounds like a great salesman to me. That's a reason they could keep prices cheap. Too bad no one in their right mind would wear crap from there.
wow, you are so cool ummm, anyway I work for a supplier of of one of their stores, we're gonna get burned. I had to talk to the manager, he was a jerk
Well, this is upsetting. Got my Starburys on right now. The all-black ones; I got a bunch of compliments on them when they were new. So comfortable, so good for basketball. I'm somewhat surprised to hear this. You'd think people would be more likely to substitute to cheaper clothes in times like these. Maybe people are just refraining from buying clothes entirely. Plus, as others have said, their stores seemed just a little too big for the amount of business they appeared to do.
