Steve & Barry's might close 100 stores

July 3, 2008

Steve & Barry's LLC, a clothing retail chain with stores in Washington Square and Lafayette Square malls, is considering closing 100 stores as it struggles to pay its debts, according to published reports this week.

It isn't clear how many stores would close, and whether any closings would sweep in the Indianapolis locations.

In a story first reported by The Wall Street Journal earlier this week, the Port Washington, N.Y., company is at risk of having to close all 275 of its stores if emergency financing can't be located.

A bankruptcy law firm is discussing options with the company, the Associated Press reported.

Steve & Barry's became known for pricing clothes and accessories below $19.98 and marketing through celebrities, including tennis star Venus Williams.

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