Oh no, Steve & Barry’s is down and possibly out

July 11th, 2008

According to Women’s Wear Daily, the company, which is famous for seriously inexpensive fashion, filed for Chapter 11 protection. Though the company did not reveal whether it plans to close stores while it reorganizes, “the firm cut 172 corporate and field staff positions Wednesday,” the fashion journal reported on its website.”It is a significant fall for a company that has experienced rapid sales growth, signed licences with stars such as Sarah Jessica Parker, Stephon Marbury and pro surfer Laird Hamilton, and snatched up vacant mall space,” WWD said.

“High costs of materials and fuel prices have increased our cost of goods and cost of operating,” said founders Steve Shore and Barry Prevor.

Even though we don’t have Steve & Barry’s here in Canada, I hope they get back up again.  Their lines are pretty cheap and of decent bad quality.

(Source: thestar.com)

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