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 licenses." Though Sarah Jessica Parker is still on board, Stephon Marbury claims Steve & Barry's still owes him $2 million in licensing fees--plus more in roylaties--for the Starbury brand. But Newsday points out, "Under the bankruptcy proceedings, the new owners would owe Starbury nothing."
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