Bye bye Bitten hello bankruptcy!
According to this WSJ article, Steve & Barry's is closing more than 100 of its stores and contemplating a full liquidation of its assets. I gotta be honest- last year I wanted to do a feature on Steve and Barry's for my old employer and when I did my research it seemed Sarah Jessica Parker's Bitten line was the last ditch effort to make this company really fly on the fashion side. The execs at the retailer insisted the reason why they were able to see an increase in revenues year over year was because they didn't spend any money on advertising- literally. The only reason why we are even talking about Steve and Barry's now is because of SJP's major media tour around her collection Bitten. They DID throw an amazing party for the launch of the collection! Maybe they should have saved that money and spent it more on paid adverts as opposed to wooing us editors...