More bad news for Indy malls

  • Comments
  • Print

Steve & Barry’sBankrupt retailer Steve & Barry’s now plans to close all of its remaining stores, including anchor shops at Lafayette Square and Washington Square malls. 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 by early 2009, Reuters reported. The weakening economy and retail market were blamed for the decision. The chain has about 170 stores. The bankruptcy filing says the company has less than $50,000 in assets and liabilities between $100 million and $500 million. The closure of the Lafayette Square store is another blow for that mall’s new owner, Ashkenazy Acquisition Corp., which learned in October that Sears also plans to close by early next year.

Please enable JavaScript to view this content.

Editor's note: IBJ is now using a new comment system. Your Disqus account will no longer work on the IBJ site. Instead, you can leave a comment on stories by signing in to your IBJ account. If you have not registered, please sign up for a free account now. Past comments are not currently showing up on stories, but they will be added in the coming weeks. Please note our updated comment policy that will govern how comments are moderated.