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UT not renewing Steve & Barry's contract

News Sentinel staff
Originally published 02:20 p.m., July 17, 2008
Updated 02:20 p.m., July 17, 2008

The University of Tennessee athletics department is not renewing its licensing agreement with popular retail chain Steve & Barry’s, which filed for Chapter 11 bankruptcy protection earlier this month.

UT spokeswoman Tiffany Carpenter said Steve & Barry’s license expired on June 30, so the chain currently does not have an agreement with UT. Under its licensing agreements, participating retailers have approval to sell UT Vols merchandise. UT then derives royalty fees from each item sold.

She said Steve & Barry’s generated about $63,000 in royalties for the university during the 2006-2007 fiscal year.

“Our top licensees generate about twice as much. While this amount is somewhat significant, our program should not feel the affects of losing (Steve & Barry’s) as a licensee, as other licensees will make up this difference,” Carpenter said.

Steve & Barry’s is a New York-based discount chain that promotes its merchandise priced at under $20. It operates a South Knoxville store at 6522 Chapman Highway and also has stores in Chattanooga and Nashville. The company had planned to open a Sevier County location this summer at Belz Outlets Pigeon Forge, 2655 Teaster Lane.

© 2008, Knoxville News Sentinel Co.

       10 Comments

Posted by GreerVol22 on July 18, 2008 at 7:54 a.m. (Suggest removal)

how will we get by?

Posted by GoshDarnGoodFootballPlayer on July 18, 2008 at 9:01 a.m. (Suggest removal)

Hamilton turns down money?!?!?!?!?!

What's next? Chavis becoming a vegetarian?

Posted by Volomatic on July 18, 2008 at 9:18 a.m. (Suggest removal)

What are they thinking turning down money from the poor man store what an idiot mike is

Posted by TommyJack on July 18, 2008 at 9:19 a.m. (Suggest removal)

Never heard of'em.

Posted by mattlock on July 18, 2008 at 9:48 a.m. (Suggest removal)

Their top sports line is "Starbury" by Stephon Marbury. . .need I say more.

Posted by marc_ash on July 18, 2008 at 9:58 a.m. (Suggest removal)

Well, articles like this should not leave a good feeling for folks. Essentially what is being said is, we see that you've brought in 60+ thousand by selling our stuff...but you really aren't significant any longer because we have a couple of other folks that can make that money for us. Hey, we don't need you anymore, so long.

That being said, its a business...and they have the right to blow folks off if need be. Least it was a new york based company...keep that money in Knoxville and find some local business to supplement that income.

Posted by mmhartz on July 18, 2008 at 10:09 a.m. (Suggest removal)

What seems to get lost in all this is that the reason UT is not renewing the license is that Steve & Barry's filed for Bankruptcy. This means two things: (1)if Steve & Barry's owed UT money prior to the bankruptcy filing, UT will most likely be getting about 6-10 cents on the dollar of what it was owed, (2)if Steve & Barry's filed for Bankruptcy, there is a very good chance that they will fold completely in the near future, in which UT would lose even more money. To me, it is a good business decision by UT.

Posted by RJ_Vol on July 18, 2008 at 1:01 p.m. (Suggest removal)

Hamilton will just charge the students more for a ticket.

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