Steve & Barry's To Be Sold For $168M

Law360, New York (August 21, 2008, 12:00 AM EDT) -- Bankrupt retailer Steve & Barry's LLC should be able to continue operating most of its 276 stores under the terms of a $168 million purchase agreement reached Thursday with an affiliate of investment firm Bay Harbour Management.

BHY S&B Holdings LLC, a newly-formed affiliate of Bay Harbour and York Capital Management, was the winning bidder in an auction for the company's assets that was completed early Thursday morning, according to Steve & Barry's.

The acquisition still requires the approval of U.S. Bankruptcy Court for the Southern...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.