PDA

View Full Version : Steve&Barry's near Bankruptcy


Kenny
Jul 1st, 2008, 10:15 PM
http://dealbook.blogs.nytimes.com/2008/07/01/steve-barrys-said-to-prepare-liquidation-plans/

What does this mean for Venus's line?

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.

Kenny
Jul 1st, 2008, 10:20 PM
I'm pretty sad to hear this.. any other thoughts?

Tennisstar86
Jul 1st, 2008, 10:31 PM
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

virtue05
Jul 1st, 2008, 10:47 PM
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.

VeeReeDavJCap81
Jul 1st, 2008, 11:12 PM
Time for Venus to start wearing RBK again.

Rocketta
Jul 1st, 2008, 11:53 PM
They probably did what a lot of companies do expanded way too fast. :(

sky20748
Jul 2nd, 2008, 01:14 AM
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.

DemWilliamsGulls
Jul 2nd, 2008, 01:23 AM
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.

darrinbaker00
Jul 2nd, 2008, 01:41 AM
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.

Slutiana
Jul 2nd, 2008, 02:18 AM
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.

supergrunt
Jul 2nd, 2008, 02:34 AM
Why couldn't Venus get another deal with a more... established sports apparel company.

SIN DIOS NI LEY
Jul 2nd, 2008, 03:36 AM
Poor Nadia

Back to that crappy brand of Ljuba Truba and Fixer Davydenko

woosey
Jul 2nd, 2008, 03:53 AM
there are other options -

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

In The Zone
Jul 2nd, 2008, 04:10 AM
Going bankrupt doesn't mean they are done for. K-Mart went bankrupt, too. It's still around.

darrinbaker00
Jul 2nd, 2008, 04:12 AM
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.

darrinbaker00
Jul 2nd, 2008, 04:16 AM
Going bankrupt doesn't mean they are done for. K-Mart went bankrupt, too. It's still around.
Until they start doing e-commerce, it won't matter. Not everyone in America has the opportunity to buy EleVen, and NO ONE outside our borders can buy EleVen.

woosey
Jul 2nd, 2008, 04:17 AM
Going bankrupt doesn't mean they are done for. K-Mart went bankrupt, too. It's still around.

barely. it's hangin in there by a thread.

Stamp Paid
Jul 2nd, 2008, 04:25 AM
Poor gal.

Serenidad.
Jul 2nd, 2008, 05:36 AM
Venus' line probably put it in there. Bad business decision on Steve and Barry's.

Kenny
Jul 2nd, 2008, 06:45 PM
Venus' line probably put it in there. Bad business decision on Steve and Barry's.

:confused: Do what?

Uranium
Jul 2nd, 2008, 06:46 PM
Venus' line probably put it in there. Bad business decision on Steve and Barry's.

oo shut up, you are so stupid.:o

*JR*
Jul 3rd, 2008, 12:52 AM
I liked the idea of their low priced stuff (as ppl are dumb enough to give a FF what star endorses something in terms of what they buy). Then I read this about their original star:

http://nbcsports.msnbc.com/id/20394955

Marbury defends Vick, calls dogfighting sport

'We don’t say anything about people who shoot deer or shoot other animals'

updated 3:05 p.m. ET Aug. 22, 2007 (AP)

NEW YORK - New York Knicks guard Stephon Marbury defended Michael Vick, calling dogfighting a sport and comparing it to hunting.

Marbury spoke Monday about the federal dogfighting conspiracy charges against Vick while promoting his basketball shoe in Albany, N.Y.

“I think it’s tough,” Marbury said, according to Albany TV station Capital News 9. “I think, you know, we don’t say anything about people who shoot deer or shoot other animals. You know, from what I hear, dogfighting is a sport. It’s just behind closed doors.”

On Monday, Vick said through a lawyer that he will plead guilty to a federal charge of conspiracy to travel in interstate commerce in aid of unlawful activities and conspiracy to sponsor a dog in an animal fighting venture. He also faces possible prosecution in Virginia.

“I think it’s tough that we build Michael Vick up and then we break him down,” Marbury said. “I think he’s one of the superb athletes, and he’s a good human being. I just think that he fell into a bad situation.”