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Steve & Barry's Files For Bankruptcy

POSTED: 1:29 pm EDT July 9, 2008
UPDATED: 1:51 pm EDT July 9, 2008

NEW YORK -- Wednesday's Wall Street Journal says the days may be numbered for the clothing retailer with the $9 Sarah Jessica Parker dresses

The low-priced fashion chain Steve & Barry's has filed for Chapter 11 bankruptcy protection, the latest merchant to succumb to a harsh consumer spending climate.

The Port Washington, N.Y.-based chain said Wednesday that it filed the petition in the U.S. bankruptcy court for the Southern District of New York.

It operates at 276 locations.

Company officials blame a liquidity shortfall as a result of the credit crunch and general sluggish economic conditions. That hurt store opening plans and its borrowing capacity.

Copyright 2008 by NewsNet5. The Associated Press contributed to this report. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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