94.7 F
San Fernando
Monday, Apr 22, 2024

Shoe drops at Pavilion

Sherman Oaks-based Shoe Pavilion is the latest retailer to fall victim to the slowing economy, filing for Chapter 11 bankruptcy protection and planning the closure of underperforming stores. Shoe Pavilion Inc. listed $61 million in assets and $25 million to $27 million in liabilities in its filing with U.S. Bankruptcy Court. The documents also said the chain planned to close 43 of its 111 discount-shoe stores and would have to close 28 more unless reductions in rent could be worked out. Shoe Pavilion officials did not return calls Monday. But an employee at the Reseda location who refused to give her name said that store may be on the closure list. For the full story visit www.dailynews.com/ci_10026325

Featured Articles

Related Articles