Steve and Barry's was destined to be an Epic Fail. Although many prime retailers pay little to no rent and get concessions from Mall owner's in exchange for the foot traffic that they hope the retailer will generate, S&B took this to a new level.
They're strategy, and the bulk of their revenue, mind you, was to seek out large dark space (no relation to the author) at weaker locations, receive cash payments for gracing the mall with their presence, use said cash to pay for their big marketing budget, and pray that will result in real customers that will generate enough revenue to hide their poor business strategy.
It flopped, they went bankrupt, were bought by a firm out of bankruptcy just 3 months ago, and have now flopped again. Its not clear if the firm that bough them, Bay Harbour Mgmt., was smart and sucked some value out of the retailer's last few breaths, or if they grossly misjudged the acquisition...
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