Steve & Barry’s, which is currently in the midst of bankruptcy proceedings, plans to close 103 stores. The Port Washington, N.Y. based retailer will operate with a smaller base of 173 stores, which the company said would better position it to reach profitability goals. The closings follow the acquisition last month by BH S&B Holdings LLC, a newly formed affiliate of investment firms Bay Harbour Management and York Capital Management.
The company will move forward with previously announced plans to open a Steve Barry’s store in the next few months at 692 Broadway in New York City, former home of the iconic Greenwich Village Tower Records store. No other new store decisions have been finalized at this time.
Final liquidation sales have begun at the 103 closing Steve & Barry’s locations. The last sales day for 24 of these stores will be Wednesday, September 24th. The other locations will close soon, although there is no set final sales date.
