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No More Cheap Clothes, Steve & Barry’s going Bankrupt

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Looks like Steve and Barry’s is going bankrupt. And that is unfortunate news. Every person has to make the compromise between style and price. Price goes up, style goes up. Price goes down, style goes down. “You get what you pay for” is usually the rule of thumb when it comes to purchasing fresh thangs. But in the case of Steve and Barry, that thumb was thrown out the window. No one can pass up a sale and that’s what they gave. It was like Wal-Mart but with better clothes. I stress one more time, the clothes were so dirt cheap I don’t think ANYONE gave a flying feces about style. I’m talking about $10 dollar graphic T-shirts and $15 Starbury basketball shoes. But the clothes were decent enough to make the wearer proud of what they paid.

With news of the bankruptcy, Steve and Barry are really going to have to tighten up. That means they’re dropping people, paying people less, sacrificing some celebrity sponsors, and ::gasp:: raise the prices of their clothing. I guess the fun had to end sooner or later. Next time, you see your nearest Steve and Barry’s, please don’t take it for granted. It might not be there for long.

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2 Comments

  1. Posted July 11, 2008 at 2:23 pm | Permalink

    this is bad news. i love steve and barry’s

  2. Posted July 11, 2008 at 4:49 pm | Permalink

    I work for a company that manages and tracks gift cards, and I’ve been following retailers filing for bankruptcy on savvywallet.com. My advice? Go spend your gift cards, you may not know how long they will be accepting them. Don’t forget The Sharper Image incident: $75m in unused gift cards.


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