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Will Sears Bail Out Low-Priced Fashion Retailer?

By admin - Posted on July 10th, 2008
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The New York Times and Wall Street Journal reported that Steve & Barry’s, a clothing chain that tried to undercut competitors by selling celebrity fashion and shoes for less than $10, was preparing to file for bankruptcy protection. A private company, Steve & Barry's had been one of the fastest-growing retailers in the country, "opening hundreds of stores selling clothes under the names of Sarah Jessica Parker, Venus Williams and Stephon Marbury."

Today, news reports confirmed that Steve & Barry's filed for Chapter 11 bankruptcy protection. Of particular interest is that the company's management have held discussions with Sears Holdings Corporation (SHLD) about a possible bailout or an acquisition of some of its labels.

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