Have you been wondering when, oh when the Steve & Barry’s will finally open in the old Tower Records space on Broadway and West 4th Street? The answer could be never, since the retailer has some money problems. Namely they don’t have any. The Shophound reports:
The reason they’re low on cash? Their clothes are ridiculously cheap! Though the brand garnered much attention with celebrity-designed lines like Sarah Jessica Parker’s Bitten, it can’t have been that profitable, since every piece costs under $20.
We tried calling Steve & Barry’s this morning, but they don’t disclose the number of their corporate office and only have a toll-free number. So then we tried to call a random store in Massachusetts to see if they could put us through to corporate. When we finally got kind, real people on the line, they were obviously in another country (bad phone connections and all). It seems if you want to call a Steve & Barry’s store in America, you (logically) have to be patched through from the other side of the world. Maybe the outsourcing is a cost-cutter? we thought. Or just a total waste of money.
Business Update: Steve & Barry’s On The Ropes [Shophound]