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Low-priced clothing retailer Steve & Barry's said Tuesday that it will keep its Karcher Mall store open despite the chain's bankruptcy.
Steve & Barry's filed for bankruptcy protection in July. It has since been purchased out of bankruptcy by BH S&B Holdings, a newly formed affiliate of investment firms Bay Harbour Management and York Capital Management.
BH S&B Holdings says it will keep open about 170 of the 276 stores that were open before bankruptcy.
Steve and Barry's, based in Port Washington, N.Y., cited a cash shortage caused by tight credit markets and the sluggish economy when it filed for bankruptcy. The chain sells clothing under licensing agreements with celebrities.
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