Steve & Barry's chain declares bankruptcy on Wednesday

Lansing-area Steve & Barry’s outlets face a questionable future as the nationwide chain filed for Chapter 11 bankruptcy Wednesday.

The retailer has local stores at 515 E. Grand River Ave., suite H; Lansing Mall in Delta Township and Meridian Mall in Okemos. There are 276 locations nationwide.

Steve & Barry’s, founded in 1985, is known for selling affordable clothing and accessories, including college apparel, usually for less than $20 an item.

But the future of the Lansing-area stores are unclear at this point, said company spokeswoman Wendi Kopsick.

“The company is carefully analyzing all its operations, including its store base,” she said. “No decisions have been made at this time.”

The Wall Street Journal reported last week that the store was preparing plans to close more than 100 stores.

The Port Washington, N.Y.-based company also is looking at reducing expenses by eliminating at least 172 staff positions, according to a press release.

Although some MSU students said they wouldn’t be devastated should the East Lansing location close, they enjoy the affordable MSU clothing.

Joshua Kanter, a political theory and constitutional democracy senior, said he was unsure of how Steve & Barry’s could file for bankruptcy because of the wide range of clothing they sell.

“There’s all the different universities,” he said. “All the colleges have their own shirts.”

Hilary Wagner, a nursing senior, said she was attracted to Steve & Barry’s because of the inexpensive prices.

“I’ve bought a couple shirts for football games,” she said. “Plus, I think it’s the closest place to my place.”

Should the stores close, Terry Livermore, manager of the university’s licensing programs, said the university’s sales would probably get no short-term benefits, while the long-term benefits are still unclear.

A statement from founders and co-CEOs Steve Shore and Barry Prevor said in spite of the company’s recently-launched celebrity clothing lines, such as BITTEN, by Sarah Jessica Parker, the economic environment has pushed the store into bankruptcy.

“High costs of materials and fuel prices have increased our cost of goods and cost of operating,” the statement said.

Franny Singer, a hospitality business senior, said she still owns the MSU apparel she bought at Steve & Barry’s as a freshman.

“You’ll go there on a Saturday and you’ll see alumni with their kids because they want to pick them up a T-shirt or something and they don’t want to spend the official NCAA prices,” she said.

“All I know is Steve & Barry’s is cheap.”