Bankruptcy Sale
A bankruptcy court judge has approved the sale of Steve & Barry’s, a chain of stores that recently went into Chapter 11 bankruptcy protection, to investment firm BHY S&B Holdings, an affiliate of Bay Harbour Management and York Capital Management. Under terms of the purchase agreement, valued at $163 million, the majority of Steve & Barry’s 276 stores will remain open. The new owners haven’t decided which stores will be closed. The agreement calls for the store’s licensing agreements to remain intact with Sarah Jessica Parker, Venus Williams, Amanda Bynes, Laird Hamilton, Ben Wallace and Bubba Watson.
