Steve & Barry's clothing store at Karcher Mall survives bankruptcy

 - STATESMAN STAFF

Published: 09/03/08


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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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