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More drama over Steve & Barry LLC's bankruptcy. Apparently, Chinese supplier Waynex is threatening the "health and safety" of current and former employees of the bankrupt retailer through some pretty irate e-mails, according to the New York Post, which received copies of the messages.
China-based manufacturer Waynex is owed $7,921.50 for a shipment of surfboards that Steve & Barry's ordered for the launch of surfer Laird Hamilton's Wonderwall clothing line. Four months later, the retailer hasn't been paid, upsetting a Waynex executive, who sent the e-mails.
Steve & Barry's filed for Chapter 11 protection on July 9 due to the high cost of materials and fuel prices, which have increased the cost of goods and operations. New York investment firm Bay Harbour created BHY S&B Holding LLC to acquire the bankrupt retailer for $163 million. - Maria Woehr See Dealscape: Steve & Barry's sells at a discount See TheDeal.com: Steve & Barry's sale approved See Dealscape: Marbury to hit the court against Steve & Barry's See Dealscape: Venus Williams cashes out of Steve & Barry's See Dealscape: Steve & Barry's gets bidder CategoriesComments Deal Video
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We have no idea whether if Eddy Xiao did what the little kid Christopher Fugarino accused. But no doubt BHY S&B is telling lie! The fact is that most of the goods even shipped 12 months ago without pay till today!!! One side they inform all vendors of China by email end of last August "The "old" entity is what remains of the Steve & Barry's estate - the assets that were not purchased by BHY S&B Holdings." to get rid of the payment. On another side they – BHY S&B treat vendors individually to accept a 30% ?discount payments by email for all shipped goods which has to confirmed and accepted within 7 days! Otherwise vendor has to deal with the member of conspiracy, AGI Logistic to dispose the goods by their own way with all surcharge cause for the sake of shipped goods which S&B ordered and shipment approved! AGI also treat that all goods will be going to auction unless shipper settle all the “DEBT” cause by S&B and all these alleged surcharges is keeping increase daily until its reach the total cargo value!!!! Some of the goods allege seized by AGI Logistic in fact already released to the head of the conspiracy long time ago even last year!!! That is very less vendors got this “SPECIAL OFFER” of discount payment, BHY S&B just simply ignore all the payment inquiry of others and push the ball to AGI to fooling vendors around!!! We know very well who is the “ARRANGED” buyer in the auction of all these shipped goods!!!! It is definitely a fraud manage by all of them with well planning. If the “NEW” entities did not purchase any goods from the vendors so why they treat for the discount payment and vendor should accept to release the goods to whom????? The fact is that they are the same old group!!!
All the unpaid invoice and ready to ship goods value more than 20M that S&B case already made China government alert and getting involved. The China vendors decided not to give anymore support to whatever the “OLD” or the “NEW” entities due to the stupid treat email. When you American working with the conspiracy and shopping happily in the S&B shop, no doubt you will smell the sweat and blood on each merchandise if you are human being with heart!!!