• Most Popular
  • Most Shared

Steve & Barry's may close stores: report

NEW YORK
Mon Jun 30, 2008 11:04pm EDT

NEW YORK (Reuters) - Retailer Steve & Barry's LLC is readying plans to close more than 100 of its stores, and is contemplating a full liquidation should it not find emergency financing, the Wall Street Journal reported on its website on Monday.

Stocks  |  Bonds  |  Global Markets

The article, citing people familiar with the company, said the retail chain is seeking a tentative plan for about $40 million in debtor-in-possession financing if it must file for bankruptcy protection. Steve & Barry could not immediately be reached for comment.

The report said that last weekend, Steve & Barry's bankruptcy counsel, Weil Gotshal & Manges LLP, prepared for a potential bankruptcy filing as soon as this week.

The article said bankruptcy attorney Harvey Miller is handling the case. Miller could not immediately be reached for comment.

(Reporting by Nicole Maestri; Editing by Gary Hill)
Stocks
Bonds
Global Markets


More from Reuters

Photo

U.S. probing if al Qaeda linked to airplane incident

WASHINGTON (Reuters) - The Obama administration said on Sunday it was investigating whether al Qaeda was involved in a Christmas Day attempt to blow up a passenger jet and sought to head off Republican attacks over its anti-terrorism measures. | Video

» More Top News
A Delta Airbus 330 airliner sits on a runway at Detroit Metropolitan Airport in Romulus, Michigan in this video grab made December 25, 2009. Credit: REUTERS/WDIV TV/Handout

The battle in mid-air

The attraction of bombing airliners means the aviation industry has to be constantly vigilant in its fight against attackers.  Full Article 

U.S.
A caution sign is seen next to a stock board at the Australian Securities Exchange (ASX) in Sydney September 5, 2008. REUTERS/Daniel Munoz
Political Risk in 2010:

Don't say we didn't warn you

With the financial crisis (mostly) in the past, U.S. investors are eying a fresh start to the coming year. Here's a look at what speedbumps lie ahead.  Full Article 

Global Markets