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.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus