Paper Trail deems Steve & Barry's an epic fail after the Wall Street Journal reported last week that the financial troubles of the discount sports apparel retailer have trickled down to one of this blog's beloved student newspapers.
The chain has fallen months behind on $36,000 in bills to the Michigan Daily, the University of Michigan's student newspaper, and still owes $20,326 for ads bought more than a year ago. "It's by far our largest unpaid debt," said the Daily's business manager. "They owe us more than we set aside for all unpaid debts for the year." Steve & Barry's management did not respond to the Journal's calls for comment.