From the Detroit Free Press:

BH S&B Holdings, an entity formed to buy bankrupt retailer Steve & Barry’s LLC out of bankruptcy for $163 million, sought court protection itself, citing the deteriorating U.S. economy.  BH S&B Holdings, created by hedge funds and former owners of Steve & Barry’s, filed for bankruptcy protection today in Manhattan federal court.

The petition for Chapter 11 reorganization listed $100 million to $500 million in debt and assets. BH S&B Holdings, formed to purchase the retailer in August, includes Bay Harbour Management LC and York Capital Management, with Steve & Barry’s co-founders Steve Shore and Barry Prevor as investors...