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Nov 18, 2008 -- Discount clothing retailer Steve and Barry's bites the dust
Clark has been raving about Steve and Barry's for years. This innovative retailer offered private designer lines at the cheapest prices possible. They were almost like a poor man's version of H&M or Zara.
Most of everything Steve and Barry's sold was around the $10 price point -- and that included clothing and shoes from the lines of tennis player Venus Williams, actress Sarah Jessica Parker and NBA basketball player Stephon Marbury.
But right now, Clark needs to eat some crow. Steve and Barry's finally has given up the ghost. In fact, it was their cheap prices that drove them out of business. You'll recall that the retailer initially filed for bankruptcy months ago, but they found a white knight investor to keep them going. Unfortunately, it didn't work. A liquidator is reportedly being hired to finish the job off.
The Steve and Barry's story will likely be replayed across the retail industry. The Chicago Tribune is now reporting that even Sears -- formerly the world's largest retailer -- is in trouble. So there will be newer and older players alike going bust. If you have credits or gift cards, now is the time to use them up.
Unfortunately, Clark won't be able to answer any questions submitted via commenting. If you have a question, please try posting it to our message boards.
Obviously the cheap prices are what caused them to go out of business. I have a problem with consumers attitudes that if it is cheaper it is better. Why is it a sin for a business to make money and employ people?
GoodBye and Good Riddance!!!!
I'll be glad to see them go, all the employees do is fold shirts all day, they refuse to help customers and act like the customers are bothering them!
Eating Crow
During the show Clark commented that he had to "eat crow" and quieried the expressions origin. This is from http://www.businessballs.com/clichesorigins.htm
eat crow - acknowledge a mistake (giving rise to personal discomfort), suffer humiliation - the expression's origins are American, from imagery and folklore from the late 19th century. Crow would have been regarded as a rather distasteful dish, much like the original English Umble Pie metaphor from the 1700s . According to etymologist James Rogers, eating crow became the subject of a story reported in the Atlanta Constitution in 1888, which told the tale of an American soldier in the War of 1812, who shot a crow during a ceasefire. A British officer complimented the soldier on his shooting and asked to see the gun, which when handed to him, he turned on the soldier, reprimanding him for trespassing, and forcing the soldier to eat a piece of the dead crow. However, on having the gun returned to him, the soldier promptly turned the weapon on the officer, and made him eat the rest of the crow.
