The New York Times is running an article about the possibility of Steve & Barry’s filing for bankruptcy. This is another mall shop which will likely close many doors, or merge and consolidate with another retailer, potentially closing even more doors.
Frankly, I am not very surprised that a seemingly trendy store like Steve & Barry’s is hurting. It sounds like they grew very quickly, and maybe even outgrew themselves.
UPDATE: Steve & Barry’s has filed for chapter 11.
Nowdays we will probably see more cases like this. Business that grow too much quickly, so they will fill for bankrupcy. In general, companies which grow step by step can resist better. Banco Internacional de Investimentos.
Yeah they had a lot of cool clothes, for cheap. Apparently a little too cheap I guess.