Steve & Barry's
The Steve & Barry's saga may have ended on August 26, when investment firms Bay Harbour Management and York Capital Management completed their acquisition of the bankrupt clothing retailer for $163 million. Was it a good buy? Steve & Barry's 276 stores attract customers with rock-bottom prices--apparel was priced below $10--and design partnerships with celebrities such as Sarah Jessica Parker. But low-margins and too-fast expansion have caused the company to struggle with debts; the retailer defaulted in March on a $200 million loan from GE. Steve & Barry's future could depend less on the economy and more on whether the owners refashion their business model.
NEXT: Whitehall Jewelers
Last updated September 09 2008: 9:59 AM ET
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