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Flameout

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Will cheap clothing chain Steve & Barry's ever recover from bankruptcy? That's the question being pondered by many after the retailer's financial woes were made very public yesterday. "Stevan Buxbaum, executive vice president of Buxbaum Group, an appraisal and liquidation firm, took a dim view: 'Steve & Barry's is most likely a liquidation. While there's talk of Sears looking at the company and some of its assets, that's not going to happen. The reason is there's no proof that Steve & Barry's ever had a working model. The margins were too low. This was just a momentum play. The numbers never worked because there was insufficient margin to sustain the business.'" [WWD, subscription req]