A judge approved for Steve & Barry's, the cheap-n-chic retail chain which faced bankruptcy earlier this summer, to be acquired by two investments firms for $163 million. Newsday reports the new group, BHY S&B Holdings LLC, made up of Bay Harbor Management and York Capital (with Steve Shore and Barry Prevor as investors), will "Steve & Barry's merchandise inventories, store leases and all of Steve & Barry's intellectual property rights, including its celebrity and brand......

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......

Yesterday, the Wall Street Journal and NY Times reported that discount retailer Steve & Barry's was facing bankruptcy. The chain had boasted how it took undesirable real estate and survived on very small margins to offer good quality, trendy clothing at low prices. Sarah Jessica Parker's lawyer said his client, who created a line of clothing for the company, was "surprised and disappointed" given how strong S&B's accounting statements were, but the WSJ noted this:......