Steve & Barry's Implodes

Ryan, Thomas J.
August 2008
SGB;Aug2008, Vol. 41 Issue 8, p6
Trade Publication
The article reports on the Chapter 11 bankruptcy petition filed by Steve & Barry's LLC in a Manhattan, New York City bankruptcy court. The company only had until August 12, 2008 to search for a buyer or a new lender due to its failure to gain debtor-in-possession financing. It blamed its troubles on the retail downturn and declining credit markets and to a perilous business model on deals from landlords and razor-thin margins. It is considered dependent on up-front payments from mall operators.


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