Steve & Barry's Nears Bankruptcy: Report

Law360, New York (June 23, 2008, 12:00 AM EDT) -- Eclectic clothing-store chain Steve & Barry's LLC, whose projected revenue this year is roughly $1 billion, reportedly is likely to enter bankruptcy soon if it cannot secure about $30 million in exit financing.

The company has retained Goldman Sachs Group Inc. to help it get the financing as well as a bankruptcy lawyer to give it restructuring advice, , the Wall Street Journal reported Saturday, attributing the news to creditors, lawyers and retail experts in the know.

Steve & Barry's did not return a request for...
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