Steve & Barry’s at Tanglewood Mall in Roanoke County will close by Jan. 9. That’s according to Sandy Feldman, who is senior vice president with Great American Group, one of the firms handling the Steve & Barry’s liquidation process.
The apparel retailer said this week that it will close 173 of its remaining stores across the country. Last week, Steve & Barry’s announced that liquidation sales would take place at all of its stores. Here’s my blog post with those details. The chain filed for Chapter 11 bankruptcy in July, and later, it was acquired by investment firms.
With the holiday shopping season in full swing, there is some good news for shoppers. The going-out-of business sales already have begun at Steve & Barry’s stores, and they are expected to last five to seven weeks. Feldman said initially, items will be discounted by 10 to 20 percent. These discounts will grow deeper as the end of the year approaches.
All Steve & Barry’s stores must close by Jan. 9, based on a deadline set by the bankruptcy court, Feldman said.