In no small twist of irony, the bargain clothing retailer Steve & Barry's filed for Chapter 11 bankruptcy protection today. The Company had operated for 23 years and was best know for its celebrity clothing lines, including Sarah Jessica Parker's "Bitten" label and Venus Williams' Eleven designs. Many of its clothes sold for under $10—but the company says that sales were still down as a result of its customers being squeezed by rising fuel and food costs, reports the Wall Street Journal.

Strange. Aren't consumers increasingly shopping at discount retailers to save money? Ah, contradiction.