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.
Wachovia names head of food and beverage investments
CHARLOTTE, N.C. Chris Morris has joined Wachovia Securities as managing director and head of food and beverage investment banking. He will report to John Hudson, managing director and head of consumer and health care investment banking.
Morris has 20 years of investment banking experience and joins Wachovia from Lehman Brothers, where he most recently served as managing director and global head of food and beverage investment banking.
Hooker Furniture names gm of Opus Designs
MARTINSVILLE, Va. Hooker Furniture has named Bruce Cohenour to the new position of general manager of Opus Designs.
Cohenour joined Hooker in a new senior management position of senior vp of national accounts and business development in March 2007. He will handle his new responsibilities for Opus in addition to his ongoing role in business development of national accounts.