By  on August 20, 2008

Bidding and negotiations for the assets of bankrupt retailer Steve & Barry’s continued from Monday into Tuesday without a resolution, but a buyer is expected to be revealed as early as today.

Without an official purchase agreement, speculation remains that Bay Harbour Management, which offered the auction’s starting bid of $163 million, will be the eventual owner. BH S&B Holdings, a new subsidiary of the Manhattan-based investment advisory firm, was named “stalking horse” bidder at a court hearing on Aug. 4 to determine auction proceedings. A representative from Bay Harbour said the company does not comment on ongoing auctions.

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