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Orange County Retail ~ The 411 on retail news in Orange County.

Big store at The Block may close

November 18th, 2008, 6:47 am · 1 Comment · posted by Hang Nguyen, retail reporter

The Wall Street Journal reports:

Fewer than three months after a private-equity firm and hedge fund acquired the discount clothing chain (Steve & Barry’s) out of bankruptcy for $168 million, it stands on the brink of liquidation.

The 275-unit Port Washington, N.Y., chain, which gained national prominence with fashion lines by celebrities such as actress Sarah Jessica Parker and surfer Laird Hamilton, is set to announce this week it will go out of business, according to two people familiar with the situation.

Bay Harbour Management LC, the private-equity firm based in New York that acquired (about) 175 of the stores, has hired a liquidation firm to handle the going-out-of-business sale for the chain. The roughly 5,000 employees will be let go.

This blog in September reported that the retailer began closing about 100 of its approximate 275 stores. The closures included a 45,000-square-foot store at Buena Park Downtown.

The retailer’s only other O.C. store is at The Block at Orange. In September, the Orange store was not slated to close. But based on The Wall Street Journal story, the Orange store may now shutter.

More from OC Retail:

For more from OC Retail, see list of links on right-hand side of this blog.

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