Steve & Barry stores and its parent company have abandoned plans to keep stores open during bankruptcy protection and will liquidate them over the next few months, according to a bankruptcy court filing. The retailer had filed for Chapter 11 bankruptcy protection in July. The investment firms that bought Steve & Barry in August said they planned to close some stores and keep operating with a smaller base.

But the retailer and its owner, affiliates of Bay Harbour Management and York Capital Management, said in the filing Wednesday that they have joined with liquidator Great American Group to liquidate all inventory in remaining stores by the end of this year or early next year.

Steve & Barry's operates three Madison stores, at 636 State St. and at East Towne and West Towne malls. Managers at the stores contacted Thursday declined comment.