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Biggest Headline of 2008: Steve & Barry's Faces a Tumultuous Year

Dec 16 2008 - 8:00am

I remember it like it was yesterday. In March '07, Sarah Jessica Parker announced [1] her partnership with an athletics apparel store. That's when Steve & Barry's entered our stylish lives. I admit, at first I was confused by SJP's choice of distributer for her line, but boy did the retailer deliver. Besides SJP's Bitten [2], it also hosted Dear by Amanda Bynes [3], a Sex and the City Movie merchandise line [4], a Venus Williams sportswear collection [5], and more. All seemed well in the world of Steve & Barry's until we got hit with devastating news — the retailer filed for bankruptcy protection [6] in July.

To hear more about Steve & Barry's tumultuous year, .

An update soon followed: Steve & Barry's officially filed a voluntary Chapter 11 petition in Manhattan bankruptcy court. Bitten, and all the other celebrity clothing lines, would now be homeless. Then, word came in August that Steve & Barry's would survive [7]. Huh? The company had been purchased by investment firm Bay Harbour Management for $168 million. How I wish this story had a happy ending, but in November, Steve & Barry's had its final blow and decided to cut its losses [8]. In the end, the flailing economy forced the retailer to file for its second bankruptcy. We have yet to learn if Bitten will make a new home, but Steve & Barry's, and the idea of fast fashion under $10, will be missed!

Source [9], Source [10], and Source [11]


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http://www.fabsugar.com/2608695