chapter 11: September 2008 Archives

Upstart discount-clothing retailer Steve and Barry's filed for bankruptcy in July, citing widespread credit woes.

On August 21 two investment firms purchased the company at auction, two weeks after Steve and Barry's found a different private equity buyer.

Last week, the company's new owners announced the closing of 103 stores, leaving 173 still operational. The closings began yesterday.

Regional shoe retailer Marty's Shoes is closing all its stores in a bankruptcy filing. It plans a liquidation of assets. Marty's operated 60 stores across four states and had been in business for more than 30 years.

Interestingly, Marty's web site is promising it will be "back in November."