By  on August 5, 2008

Steve & Barry’s filed a “stalking horse” asset purchase agreement in federal bankruptcy court in Manhattan on Monday with BH S&B Holding LLC, a new subsidiary of investment firm Bay Harbour Management.

BH S&B Holdings would acquire certain of the bankrupt company’s assets for $163 million. According to Steve & Barry’s, BH S&B Holdings’ expressed the intent to continue operating the retailer with current staff and key facilities, including the company’s Port Washington, N.Y., headquarters; Columbus, Ohio, distribution center, and certain overseas offices.

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