Results tagged “bay”

After finding themselves in bankruptcy last month, Steve & Barry's, the clothing retailer boasting inexpensive designs from Sarah Jessica Parker and Stephon Marbury, announced that an investment company has offered them $163 million. Newsday reports that a subsidiary of Bay Harbor Management, which specializes in "purchasing and revitalizing troubled companies," has made the offer, in exchange for some assets and would want the company to continue to operate. The offer needs to be accepted by bankruptcy court and would establish "a minimum price for other bidders during the auction process." One retail consultant said it would be a "steal." It remains to be seen what will happen with its stores--some would probably be closed.