Women’s shoe retailer Aerosoles Group is planning to file bankruptcy to exit its unprofitable store leases, Reuters reported yesterday. The shoe seller’s bankruptcy will come as soon as this month. Aerosoles, known for its comfortable flats and wedges sold in its own shops and in department stores, plans to remain in business, unlike many other retailers who filed for bankruptcy in recent years and liquidated. The shoe seller, which has about 80 stores in the U.S., plans to move forward after bankruptcy with about a quarter of those locations, the people said. Aerosoles has not made rent payments for September. Read more.
What does the future hold for retail bankruptcies? Be sure to attend ABI’s Bankruptcy 2017: Views from the Bench on October 17.
