Steve and Barry's 2nd Chapter 11 in 4 Months

Steve and Barry's University Sportswear has filed for chapter 11 bankruptcy protection again. Its owner Bay Harbour Management and York Capital Management will not try to reorganize the company this time but will instead liquidate it. After taking the company out of bankruptcy in August, the firm closed 103 stores but still suffered poor revenues due to the state of the retail market and was forced back into chapter 11. The company will liquidate its remaining 173 stores by January 3, 2009.