Wednesday, March 7, 2018

Footwear Retailer The Walking Company Files ‘Chapter 22’ Bankruptcy

Wall Street Journal

The Walking Company Holdings Inc., a chain specializing in comfortable footwear, sought chapter 11 protection for the second time in a decade Tuesday, the latest mall-based retailer hurt by the consumer shift to online shopping.

The retailer filed for protection in U.S. Bankruptcy Court in Wilmington, Del., having already agreed to the terms of a chapter 11 plan with its key creditors that includes a $10 million equity investment and $50 million in bankruptcy and exit financing so the company’s stores can stay open during the restructuring. The company’s Big Dog USA Inc. and FootSmart Inc. affiliates also filed for bankruptcy protection.. . . more

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