Steve&Barry's !?!!?!?

Question

What's going on with Steve & Barry's ?!!?

Are they going bankrupt?

Are all the stores closing !?

How long till its completely done !?

Answer 1

They filed Chapter 11 on July 9th. They requested a sale of the company or liquidation of assets on July 29th. They judge ruled against the July date and pushed it to Aug 12th. There are a few companies looking into the purchase of the retailer but are more interested in some of the brands than the retailer itself. Do I persoanlly think they will close? Yes. When do I think that will happen? Shortly after the Aug 12th date.

Answer 2

Looks like Steve and Barry's is headed for bankruptcy. That doesn't necessarily mean that it will fold up all the stores. They have laid off some people and may sell some assets.

The company is said to have picked up space in malls at discount rates, but had a very small profit margin at the prices it charged. The current sales slump took its toll on business, even at those prices.