Steve & Barrys Chapter 11
A few months ago I wouldn’t have been too concerned with Steve & Barry’s filing for Bankruptcy. But now that Laird Hamilton is part of the product mix it’s kind of a bummer. I’m not a Steve & Barry’s shopper, but I have to be honest… I wanted to see what everyone was talking about so I wandered into the local Steve and Barry’s the last time I was at the mall. You can buy a pair of Stephon Marbury basketball shoes for about ten bucks, t-shirts for around 3 bucks, and more of the same. I couldn’t figure out how they could operate on those razor thin margins. I know you get what you pay for, and I’ll keep supporting the brands that come to ASR, that’s why we’re all here. But everybody has their own situation. And for some people, this is what they can afford. I would rather see them support Laird Hamilton instead of some random discount store. Whatever happens with Steve & Barry's, I hope the Wonder Wall brand comes out ok. I’m sure there are guys that are stoked to get his gear at a price they can afford.
Matt
I work for a company that manages and tracks gift cards, and I've been following retailers filing for bankruptcy on savvywallet.com. My advice? Go spend your gift cards, you may not know how long they will be accepting them. Don't forget The Sharper Image incident: $75m in unused gift cards.
Posted by: Austin Chu | July 11, 2008 at 05:12 PM