Steve and Barry's
By Timmy - Posted on September 18th, 2008
Anyone know why this store is going out of business? I am wondering if it is them or the mall that is doing this. From what I heard, that may or may not be true, the furniture store that was there had its rent jacked up so they would move out and make room for the clothing store. Could the same have happened again? The only reason I ask is because a store that charges 8.98 (or something pretty close) for EVERYTHING in the store should have no problem surviving even in a town like this.
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I had no idea they were
I had no idea they were going out of business until recently. I just found out that they closed. I am surprised.
Yep and Capital One is
Yep and Capital One is laying off 10K plus. They are not the only multi State and multi National organization doing so. We are not the only ones in a recession. I read a report today that the G20 summit is going to call things a World Wide recession. How far we may fall is sometimes not the real issue. I believe the real issue in this case is how we recover and learn from our mistakes.
I ran across this today as a
I ran across this today as a header ad on weather underground.
Anybody want to buy a mall? Only 17mill!
http://www.carpenteraustin.com/plazadelsol.html
Veni, Vidi, Velcro ---- I came, I saw, I stuck around......
Price notwithstanding what
Price notwithstanding what stood out to me was the fact that they are saying Starbucks really does own a piece of the property up front along Veterans. Now that is interesting, but with their downsizing it's not going to happen now.
You mean to tell us that the
You mean to tell us that the mall is worth 17 MILLION??? That is completely mind boggling!
That's just what they're
That's just what they're ASKING for it. What it's worth is another story altogether.
Veni, Vidi, Velcro ---- I came, I saw, I stuck around......
I wonder what the property
I wonder what the property it is sitting on is worth.
2007 tax records put it at
2007 tax records put it at $7,331,250
http://propaccess.trueautomation.com/clientdb/SearchResults.aspx?rtype=address&page=2
Veni, Vidi, Velcro ---- I came, I saw, I stuck around......
Here is Press Release that I
STEVE & BARRY’S STORE PLANS ANNOUNCED
Smaller Base of 173 Stores in Go-Forward Plan;
Liquidation Sales Happening Now in 103 Closing Stores
(PORT WASHINGTON, New York, September 16, 2008) – Steve & Barry’s announced today its go-forward plan for existing stores, following its acquisition last month by BH S&B Holdings LLC, a newly formed affiliate of investment firms Bay Harbour Management and York Capital Management. Steve & Barry’s will operate with a smaller base of 173 stores, better positioning the company to reach its profitability goals.
Final liquidation sales, featuring incredible deals on merchandise for the entire family, have begun at 103 closing STEVE & BARRY’S® locations. The last sales day for 24 of these stores will be Wednesday, September 24th. The other locations will close soon, although there is no set final sales date. Click here for a complete list of stores and their status and/or closing date.
Regarding new store openings, the company will move forward with previously announced plans to open a STEVE & BARRY’S store in the next few months at 692 Broadway in New York City, former home of the iconic Greenwich Village Tower Records* store. No other new store decisions have been finalized at this time.
In its go-forward locations, Steve & Barry’s will continue offering shoppers astonishing values on exclusive celebrity collections created with Sarah Jessica Parker, Venus Williams, Amanda Bynes, Laird Hamilton, Ben Wallace and Bubba Watson.
Andy Todd, president of Steve & Barry’s, said: “We’re finalizing a strategic business plan that will put Steve & Barry’s on track to meet our profitability goals over the long term. The decision to operate with a smaller, more productive store base is integral to that plan. While the business rationale for this action is sound, we deeply regret the impact these store closings will have on our associates, our customers and the communities where these stores are located. We want to thank all of our associates for their dedication and outstanding contribution and will make every effort to transition displaced associates to go-forward stores wherever possible."
About Steve & Barry’s
New York-based Steve & Barry’s is a leading national casual apparel retailer that offers high quality merchandise at astonishing low prices for men, women and children. Steve & Barry’s currently operates over 270 locations throughout the U.S. At STEVE & BARRY’S® stores, shoppers find brands they can’t find anywhere else, including the BITTEN® collection, the first-ever apparel line created by Sarah Jessica Parker, the DEAR® collection by Amanda Bynes, the ELEVEN BY VENUS WILLIAMS™ collection, the BUBBAGOLF™ collection by professional golfer Bubba Watson, and the WONDERWALL™ collection by surfer Laird Hamilton. Steve & Barry’s is owned by BH S&B Holdings LLC, an affiliate of SEC registered investment advisors Bay Harbour Management and York Capital Management. Additional information and store locations can be found at www.steveandbarrys.com.
© 2008 BH S&B Holdings LLC. All Rights Reserved. *Trademark/service mark of its respective owner. ®BITTEN is a trademark of 45220, Inc. and is used with permission. ®DEAR is a trademark of Chickiii Productions, Inc. and is used with permission. ™ELEVEN BY VENUS WILLIAMS is a trademark of Venusian At Large, LLC. ™WONDERWALL is a trademark of Flying Pigz LLC and is used with permission by Licensee. ®STEVE & BARRY’S is a service mark of BH S&B Holdings LLC.
# # #
FAQ for Customers
• The majority of STEVE & BARRY’S® stores are open and conducting business as usual. A number of STEVE & BARRY’S stores are currently conducting Store Closing Sales, featuring more astonishing values than ever before. Click here for a list of stores that will remain open and those conducting Store Closing Sales.
• In stores that will remain open, our return policies will remain in place. In stores conducting Store Closing Sales, all sales are final and no returns or exchanges will be allowed. Gift cards will be honored at all stores.
• A store is scheduled to open in my neighborhood. Will it still open?
A new STEVE & BARRY’S store will open in the next few months at 692 Broadway in New York City, site of the former iconic Tower Records* store in Greenwich Village. The company has made no decisions at this time concerning any other previously announced new stores.
*Trademark/service mark of its respective owner
One might consider how much
One might consider how much tax base the Mall brings in and whom would replace tax income in the event it went away.
Tax revues for the most
Tax revues for the most would not go away, it would be more of a shift of where that revenue would come from.
People would still likely require the same goods/services they currently seek out at the plaza, now they would just go somewhere else. The needs of the people would not subside, they just wouldn't be pacified at that one location.
The city would see a decrease from property taxes on that parcel, but likely another development of some type would pop up and fill the void made by the plaza (and return jobs that were resulting from the plaza's existence).
Right now the only reason I
Right now the only reason I go to the Mall is to sit and have Ice Cream or when my youngest decides that her day with dad is going to be partially spent playing games and then having the aforementioned ice cream. The book store does not carry much in the way of popular Sci Fi or Fantasy writers. I have spoken with them about this and not much happened. And I'm a big guy so the clothing stores don't do much for me either. My wife however likes to shop for shoes and clothes so we pay a few light bills there.
Mostly the Mall seems to have become a hangout for rude male and horribly dressed female tweens that parents have dropped off. This in itself is nothing new I suppose but the quality of the available venue has certainly taken a dive.
I don't know if the owners of the Mall are charging too much but owning a business that is located in a Mall is like having a franchised business. Basically someone else gets a percentage of your sales. I'm sure the mall is having misgivings about giving the furniture store the boot for Steve and Barry's at this point though.
I say they should take that
I say they should take that roof of the halls of the mall. It is called Plaza del Sol rght? So blow off the roof and you got an outdoor mall and to tell you the truth they are pretty in rihgt now. I still like the whole concept of the mall because you don't have to go all over the place to different strip malls to buy different things. All they need to do is just a little renovation...well in this mall's case..a big renovation!
The more things change, the
The more things change, the more they stay the same. Years ago the malls were the hottest thing to hit the country, and their development foretold the demise of local and specialty stores. Now, all of a sudden, folks are staying away from them urging us to go downtown. Deja vu?
The "mall" for years was
The "mall" for years was anchored by K-Mart, Luby's, Bealls, JC Penney's and a Theatre. Honestly, how long did anyone think that bliss would last? Luby's wised up and went on their own. Radio Shack got the hell out of dodge. Applebees should have never moved in there. We can re-arrange things and move one store from one end to the other, but a the end of the day we are just polishing a terd.
There is no real draw, it's essentially one giant clothing store with a lot of overpriced items and crappy kiosks. Aside from the outdated arcade and the equally outdated theatre, there is no entertainment draw at all. For entertainment I'm not even talking about instant gratification either, hell I can't even buy a CD, game or DVD there. God forbid I need to pick up a toy for a child too, because even then I'm stuck back at good old Wal-Mart where my poor kids are usually gifted a duplicate from someone at every gift giving occasion.
I don't think downtown is the answer, I think we need to go back to the strip type malls where everything is a separate store.
Last I checked, there was plenty of land in this county so it's not a necessity to just set up shop in Plaza Del Sol
Amen!
Amen!
I agree with you CP....The
I agree with you CP....The Mall business is dead. If the movie theater would move you would see them begging for renters.....
Just one more reason to move downtown....
Larson, charges them
Larson, charges them $10,000.00 a month rent! :-(
I heard something close to
I heard something close to this also, if i remember correctly about 5 years ago JC Penney was bieng charged 6k a month , so this seems about on par. I don't think they would have made it even without the "restructuring" of the company, at 9 bucks an item they would have to sell a little over 1100 items just to break even on rent.
No offense taken here. I
No offense taken here. I hate it that they are leaving.... I guess it's back to online shopping for me...:(
Do a google search on "Steve
Do a google search on "Steve and Barry's closure" and you will get a bunch of info. It looks like, they have been bought out rather than face bankruptcy due to the economy and the new owners, whoever they may be are reorganizing.
When I went in there the
When I went in there the other day, my friend asked if the whole company (or corporation) was calling it quits. According to the nice lady, the company is closing several of the stores, but she did say that this store was making NO money. Apparently quite a few of the patrons were complaining that the clothes were too expensive and there were numerous people trying to barter. I am very sad to see them leave, I love their jeans and button down shirts.
Too expensive?! Man, what is
Too expensive?! Man, what is the problem here? I loved that place because everything was decent enough quality for me and very affordable. I liked having an option other than Wal-Mart for clothing I could afford to buy.
Sorry Idinoir, didn't mean to yell. Not trying to kill the messenger...
Why anyone does business in
Why anyone does business in the "mall" is beyond me.
Malls like this are a dying breed, and rightfully so.