TITLE

Steve & Barry's Implodes

AUTHOR(S)
Ryan, Thomas J.
PUB. DATE
August 2008
SOURCE
SGB;Aug2008, Vol. 41 Issue 8, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
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.
ACCESSION #
34118504

 

Related Articles

  • Steve & Barry's Looks To Expedite Process. Young, Vicki M. // WWD: Women's Wear Daily;7/11/2008, Vol. 196 Issue 8, p12 

    The article reports on the demand of Steve & Barry's LLC, the Port Washington-based apparel distributor to hasten the hearing for its bankruptcy declaration it filed in Manhattan bankruptcy court. The company wants faster procedures in connection with the sale of most of its assets since the...

  • MCDONALD HOPKINS RIDES INTO HUFFY CASE. Suttell, Scott // Crain's Cleveland Business;11/22/2004, Vol. 25 Issue 47, p1 

    The article presents a report on Cleveland law firm McDonald Hopkins, who has been retained to represent the Creditors' Committee in the Chapter 11 bankruptcy proceedings of Dayton-based bicycle and sporting goods maker Huffy Corp. Huffy filed for bankruptcy protection last month with the U.S....

  • Purposes of the Bankruptcy Bill Now Before Congress.  // Congressional Digest;Jun/Jul32, Vol. 11 Issue 6/7, p171 

    The article discusses purposes for which the new bankruptcy bill was introduced before the U.S. Congress. The main purpose for which the bankruptcy act should be amended is to provide remedial process in voluntary proceedings under which debtors, unable to pay their debts in due course, may have...

  • A Symposium of Views on Modern Bankruptcy Reform.  // Congressional Digest;Jun/Jul32, Vol. 11 Issue 6/7, p174 

    The article presents comments of the Judicial Conference of the Bankruptcy Committee members on the bankruptcy bill pending before the U.S. Congress. The committee reports that it has noted with approval, the request of the U.S. President that the Attorney General undertake an exhaustive...

  • Critical vendor designation can advance Chapter 11 cases. Blakely, Jonathan P. // Crain's Cleveland Business;9/14/2009, Vol. 30 Issue 34, p18 

    The article reports that 7,396 Chapter 11 business bankruptcy cases were filed in the first six months of 2009 in the U.S., according to the American Bankruptcy Institute. Financially distressed businesses can seek protection from creditors while reorganizing their finances through Chapter 11...

  • Bankruptcy Exit Money Gets Pricey. Rozens, Aleksandrs // Bank Loan Report;10/8/2007, Vol. 22 Issue 38, p4 

    The article reports on the pricey exit loan for bankrupt businesses in the U.S. Restructuring specialists believe that the tougher credit conditions could slow a company's emergence from bankruptcy court supervision. It adds that exit money is important to the bankruptcy process because it...

  • Limo firm files for bankruptcy. Soule, Alexander // Fairfield County Business Journal;4/6/2009, Vol. 48 Issue 14, p5 

    The article reports on the decision of Stamford-based Alliance Limousine LLC of filing for Chapter 11 bankruptcy protection from creditors in Connecticut. It states that the firm's largest unsecured creditor was Shipman & Pullman LLP owning $120,000. Alliance Limousine, which was established in...

  • On your mark, get set ... declare bankruptcy. Kenny, Jack // New Hampshire Business Review;5/27/2005, Vol. 27 Issue 11, p25 

    This article reports that an increase in bankruptcy filings is expected in the United States before new federal bankruptcy law takes effect on October 17, 2005. According to Jerry Little, president of the New Hampshire Bankers Association, what the U.S. Congress has designed is a remedy for...

  • NexPak files for bankruptcy protection. Renstrom, Roger // Plastics News;7/26/2004, Vol. 16 Issue 21, p5 

    Jewel box injection molder NexPak Corp. has filed for protection from creditors under Chapter 11 of the U.S. Bankruptcy Code. The Uniontown, Ohio-based company said it expects to emerge within months with new ownership and significantly reduced debt. Vincent C.M. Leesberg, president and chief...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics