Malls to lose key Steve & Barry's stories

November 21, 2008

Lafayette Square and Washington Square malls no longer will have their Steve & Barry's stores, now that the new owners of the popular clothing retailer have thrown in the towel on trying to keep the company afloat.

Bay Harbour Management and York Capital Management, the investment firms that bought 173 of the stores out of bankruptcy in September, now plan to liquidate the stores, according to Reuters.

The weakening economy and retail market were blamed for the decision.

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