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Steve & Barry's at the Beverly Connection
Despite Steve & Barry's attempts to resuscitate by filing bankruptcy, with private-equity firm Bay Harbour Management LC (which "purchased Barneys New York out of bankruptcy in 1999") then stepping in and buying the chain out of bankruptcy for $168 million, the WSJ reports Steve & Barry's "is set to announce this week it will go out of business, according to two people familiar with the situation." Bay Harbour "has hired a liquidation firm to handle the going-out-of-business sale for the chain. The roughly 5,000 employees will be let go."
Which also means a big, wide-open retail space at the Beverly Connection in the near future.
· Apparel Chain Faces Closure Three Months After Rescue [WSJ]
· Steve & Barry's Archives [Racked]