Steve&Barry's near Bankruptcy - TennisForum.com
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post #1 of 22 (permalink) Old Jul 1st, 2008, 09:15 PM Thread Starter
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Steve&Barry's near Bankruptcy

http://dealbook.blogs.nytimes.com/20...idation-plans/

What does this mean for Venus's line?

Quote:
Retailer Steve & Barry’s is readying plans to close more than 100 of its stores, and is contemplating a full liquidation should it not find emergency financing, The Wall Street Journal reported on Monday.
The article, citing people familiar with the company, said the retail chain is seeking a tentative plan for about $40 million in debtor-in-possession financing if it must file for bankruptcy protection. Steve & Barry could not immediately be reached for comment.
The report said that last weekend, Steve & Barry’s bankruptcy counsel, Weil Gotshal & Manges, prepared for a potential bankruptcy filing as soon as this week.
The article said bankruptcy attorney Harvey Miller is handling the case. Mr. Miller could not immediately be reached for comment.

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post #2 of 22 (permalink) Old Jul 1st, 2008, 09:20 PM Thread Starter
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Re: Steve&Barry's near Bankruptcy

I'm pretty sad to hear this.. any other thoughts?

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post #3 of 22 (permalink) Old Jul 1st, 2008, 09:31 PM
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Re: Steve&Barry's near Bankruptcy

stores file for bankruptcy all the time... tough to say prolly poor management.... Who knows they'll close a couple stores... prolly stay open for bussiness.... I saw an article online once about stores filing for bankruptcy (krispy kreme was on it shockingly as well as blockbuster not so shocking) its apparently becoming more common and with the pending recession will remain common

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post #4 of 22 (permalink) Old Jul 1st, 2008, 09:47 PM
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Re: Steve&Barry's near Bankruptcy

I do think Steve and 's is reconstructing there managment team becuase they have all kinds of positions posted on Career Builder here in the south. They are probably filing for bankruptcy as a form of protection rather than, being in dnager of shutting down.
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post #5 of 22 (permalink) Old Jul 1st, 2008, 10:12 PM
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Re: Steve&Barry's near Bankruptcy

Time for Venus to start wearing RBK again.

Really, don't even look at me...
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post #6 of 22 (permalink) Old Jul 1st, 2008, 10:53 PM
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Re: Steve&Barry's near Bankruptcy

They probably did what a lot of companies do expanded way too fast.
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post #7 of 22 (permalink) Old Jul 2nd, 2008, 12:14 AM
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Re: Steve&Barry's near Bankruptcy

its still venus's line and she will find other distributors.thats why she is out there showing her line and putting it in other markets.come on now she can still produce it and market it herself.she can do it on the internet and find other investors.come on now this is venus freaking williams.
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post #8 of 22 (permalink) Old Jul 2nd, 2008, 12:23 AM
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Re: Steve&Barry's near Bankruptcy

Thast sad to hear because its a REALLY REALLY nice store. Its like a poor mans GAP. LOL The clothes there are of really good quality and for a damn good price. It was really good for college paraphanellia and t-shirts as well. I hope they are okay..in the end...if you have one near you..you should check it out..its REALLY a nice store.

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post #9 of 22 (permalink) Old Jul 2nd, 2008, 12:41 AM
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Re: Steve&Barry's near Bankruptcy

I had no idea Steve & Barry's even existed until Venus launched EleVen last year. It's tough when you're not available in a lot of markets and you don't do e-commerce.

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post #10 of 22 (permalink) Old Jul 2nd, 2008, 01:18 AM
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Re: Steve&Barry's near Bankruptcy

Well considering how sucessful EleVen has been, im sure she will be able to find other distributors if worst comes to wost. Even if she is associated with a big sports brand.
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post #11 of 22 (permalink) Old Jul 2nd, 2008, 01:34 AM
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Re: Steve&Barry's near Bankruptcy

Why couldn't Venus get another deal with a more... established sports apparel company.
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post #12 of 22 (permalink) Old Jul 2nd, 2008, 02:36 AM
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Re: Steve&Barry's near Bankruptcy

Poor Nadia

Back to that crappy brand of Ljuba Truba and Fixer Davydenko
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post #13 of 22 (permalink) Old Jul 2nd, 2008, 02:53 AM
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Re: Steve&Barry's near Bankruptcy

there are other options -

kohl's and target for instance, if of course, she needs to jump ship. it depends on her sales though.

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post #14 of 22 (permalink) Old Jul 2nd, 2008, 03:10 AM
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Re: Steve&Barry's near Bankruptcy

Going bankrupt doesn't mean they are done for. K-Mart went bankrupt, too. It's still around.
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post #15 of 22 (permalink) Old Jul 2nd, 2008, 03:12 AM
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Re: Steve&Barry's near Bankruptcy

Quote:
Originally Posted by woosey View Post
there are other options -

kohl's and target for instance, if of course, she needs to jump ship. it depends on her sales though.
Why weren't those two retailers a first option? They're more well-known and they have an online store; someone in Paris, London or anywhere with Internet access can buy stuff from those stores. That alone would improve EleVen sales. Whoever advised Venus to sign an exclusive deal with Steve & Barry's gave her some bad intel.

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