NEWSLETTER
The sports footwear sector has faced financial difficulties since the COVID-19 pandemic with several shoes retailers that are declared in bankruptcy, store closure locations and, sometimes, and sometimes they don't occur to them.
A few weeks before the Pandemic Payless ShoeSource chain, Giant Shoe Store, in January 2020, emerged from a devastating bankruptcy of Chapter 11 that was presented in February 2019 after closing the 2,500 stores and their electronic commerce platform. Instead, the company would focus on its international operations.
The footwear chains continued closing after the disappearance of Payless, since two more shoe store chains were declared in bankruptcy in 2022 and 2023 and liquidated.
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Westbrook, Olympia Sports, based in Maine, declared in bankruptcy of Chapter 11 in September 2022, liquidated her assets and closed.
Then, Shoe City, based in Baltimore, who operated 39 stores in Maryland, Virginia, and Washington, DC, declared in bankruptcy of chapter 11 in March 2023, liquidated and closed all stores.
Another huge retailer retailer retailers revealed in December 2024 that it would close 275 of its homonymous locations by 2026 in addition to closing 125, or half, of its Sports Champs stores.
Foot Locker in 2023 also closed its operations of Atmos Shoe Store in New York, Philadelphia and Washington, DC, and its website was disconnected. The Atmos chain had succeeded in Japan and other parts of Asia, and the company wanted to focus on marketing the chain in those areas.
The Swedish father of the Global Sneakersnsufff shoes chain declared himself in bankruptcy in Sweden facing financial difficulties, the company revealed on January 20.
SNS AB -headquarters in Stockholm closed retail stores in New York and Los Angeles, as well as a homonymous bar in New York. The company still operates stores in Berlin, London, Paris and Stockholm.
Footwear manufacturers for bankruptcy protection
All these shoe closures and other macroeconomic problems have also had some effect on footwear manufacturers.
Rockport Group in June 2023 declared himself in bankruptcy of Chapter 11 and sold his assets to authentic Brands group.
Florida Headquarters for teams, a manufacturer of advantages resistant to work shoes, in April 2024 they declared themselves in bankruptcy of Chapter 11 to reorganize and sell their assets to their first -fans lenders. The company was bankrupt in July 2024.
Banking shoe chain files
The popular retail sports shoes chain requested Soleply for the protection of chapter 11 to reorganize its business.
Related: the main archives of the owner of the hospital chain for bankruptcy chapter 11
The Shoe Store chain based in Cherry Hill, NJ, presented its request for subchapter V on March 21 at the United States Banking Court for the New Jersey district, which lists $ 1 million to $ 10 million in assets and liabilities.
More bankruptcy:
- Popular files of the breakfast meal chain of chapter 11
- Huge national files of the car wash chain chapter 11 bankruptcy
- Archives of the Problematic Transport Transport Company for Banking Chapter 11
The debtor did not indicate any specific reason to declare himself in bankruptcy.
Currently, Solepy operates six locations in six states: New Jersey, Pennsylvania, Connecticut, Maryland, Delaware and Rhode Island.
The declared mission of the company is: “Becoming the leader of the street clothing industry providing value to our community and establishing the standard for the retail experience of the client.”
The shoe chain specializes in sneakers and street clothing under the best brands, including Nike Dunks, Air Jordan, Asics Gel-Kayano, Adidas Yeezy, as well as the brands of high-end streets fear essential God, tears of denim and most brave studies.
In addition to footwear, the chain sells clothes, which includes t -shirts, sweatshirts, jackets, hoodie and denim pants.
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