The options are narrowing for Steve & Barry's University Sportswear. Credit and liquidation sources say that, unless a white knight can be found, liquidation is a distinct possibility for the once
red-hot chain specializing in trendy sportswear at big-box prices.
Sources say that Steve & Barry's was in discussions with a retailer over the weekend regarding a possible
acquisition. It could not be learned definitively what terms were being discussed, or how a deal would be structured, but Sears Holdings Corp. was mentioned as a possible suitor.
Steve & Barry's, some suggest, could be positioned as a brand within Sears' Kmart stores, possibly in tandem with some of its licensed merchandise, such as the Bitten label brought to it by Sarah
Jessica Parker. The possible relationship could parallel the one that Lands' End has in Sears stores. Spokespeople for Steve & Barry's and Sears declined comment.
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