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Published: July 01, 2008 06:32 pm
Steve & Barry's review alternatives
Associated Press
NEW YORK —
A bankruptcy firm on Tuesday confirmed it is working with apparel retailer Steve & Barry’s LLC to negotiate with its lenders and review strategic alternatives.
The privately held company’s apparent financial difficulties are the latest indication of the increasingly hostile environment for retailers.
Bankruptcy attorney Harvey Miller said his partner Lori Fife at law firm Weil Gotshal & Manges LLP is advising the company as it negotiates with lenders and reviews alternatives.
The Port Washington, N.Y.-based retailer had no comment.
Steve & Barry’s, which operates more than 200 stores, made a name for itself in recent years by keeping all of its clothing and accessories priced below $19.98, proliferating rapidly and collaborating on products with big-name celebrities and athletes such as tennis star Venus Williams, actress Sarah Jessica Parker and basketball player Stephon Marbury.
The company has stores at malls in Ashland and in Barboursville and Charleston, W.Va.
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