New York investment firm Bay Harbour created BHY S&B Holding LLC to acquire the bankrupt retailer. Bay Harbour became the stalking-horse bidder on Aug. 4 after the firm bid $163 million. The sale price was reduced from $168 million to $163 million because insider causes of actions were removed, and will be resolved in a separate settlement. The settlement, which has not yet been filed with the court, will be heard on Sept. 4. The acquisition is expected to be completed Aug. 25. - Jamie Mason
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Bankrupt discount retailer Steve & Barry's LLC's sale to Bay Harbour Management LLC for $163 million has been approved.
