Second Bankruptcy Will Do Steve & Barry's In

Steve & Barry's, the cheap clothing retailer that offered inexpensive fashions from celebrities like Sarah Jessica Parker, Amanda Bynes and Stephon Marbury, filed for bankruptcy for the second time in three months. Steve & Barry's, whose bankruptcy filing said it had no "prospects for continued financing of their business," will start liquidating and closing its 177 stores. Newsday reports that a group of employees who were laid off on Monday are suing because the company did not give them the required 60-day notice. Back in July, the Long Island-based company came under scrutiny during its financial troubles; it did receive a $163 million lifeline to restructure but the current economic situation was unforgiving.