I saw this thread and decided to come play. I worked up a design while listening to the hockey game on the Internet...
I think you can work an image into a letter form, like Joe Diaz said, if you can make it a legible letter. The problem with redesigning a logo that has been in use for awhile is that it becomes ingrained in the brain and gives people tunnel vision.
I reworked the curtain idea. I feel it only needs one "B" to be a curtain. I added a cordon to give the definition of the "B" a reason for being there. I build some letters to make up the name. I used a clean single stroke style letter for the sub copy that, I felt, kept a period feel that the name has.
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