Steve & Barry's to close 100 stores; may liquidate

KRT) Via Acquire Media NewsEdge) Jul. 4--Steve & Barry's, the Port Washington-based clothing retailer that opened more than 200 dress-down stores in the past few years and is the home of splashy but low-price apparel and footwear by the likes of Sarah Jessica Parker and Stephon Marbury, plans to close 100 outlets and is considering liquidation if it can't find emergency financing, according to a published report. The Wall Street Journal, citing "people familiar with the company," said Steve & Barry's is seeking about $40 million in financing if it must file for Chapter 11 bankruptcy protection. Rachel Brenner, a Steve & Barry's spokeswoman, said yesterday the company would have no comment on the report in the Journal. The article did not cite any reasons for financial problems at Steve & Barry's. As recently as March, a... [read full story]