BH S&B Holdings (d/b/a Steve & Barry's) Wins Final Approval to use Cash Collateral to Wind Down Operations
Clothing retailer BH S&B Holdings LLC (and other related debtor entities) received final approval from Judge Martin Glenn of the United States Bankruptcy Court for the Southern District of New York to use its cash collateral to complete a wind down of its operations. The debtors and the creditors' committee anticipate wind down of operations and assets, which should be accomplished by the end of January, and the payment of anticipated expenses of the bankruptcy cases can be accomplished using cash generated from going out of business and other sales.
Cahill is representing BH S&B Holdings LLC and seven affiliated debtors in their Chapter 11 cases. BH S&B Holdings had previously purchased Steve & Barry's out of bankruptcy and was operating more than 200 stores throughout the United States.