Report: Steve & Barry’s May Face Bankruptcy

Port Washington, N.Y. Steve & Barry's is expected to file for Chapter 11 bankruptcy as early as this week, according to a Wall Street Journal report.

The report, which cited people familiar with the matter, said the retail chain had been unable to raise rescue financing.

It had been in last-minute discussions with Sears Holdings Corp. for a bail-out, the report said.

The newspaper reported last month that Steve & Barry’s needed some $30 million in rescue financing.