The bankruptcy filing and possible liquidation of Steve & Barry’s, first reported in mid-June, appears imminent, according to various media reports. The retailer has been in last-minute discussions with Sears Holdings Corp. about a bailout or partial sale, according to The Wall Street Journal. Despite its financial difficulties, the bigger issue is what will happen to its portfolio of licensed celebrity brands, which was the strategy that catapulted the retailer to widespread publicity and popularity. If the retailer continues to operate, it could still promote its exclusive brands. However, if the retailer liquidates, the celebrity brands could find a possible home with other mass retail chains. Steve & Barry’s operates 270 stores in 40 states.