This Retailer Bankruptcy Will Lead to the Largest Liquidation by Store Count in the US. | Wolf Street

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The specialty shoe retailer has been trying to sell itself in recent months, with the help of financial advisory firm PJ Solomon. But there have been no takers, the people said. And so now, the company moved on to Plan B, a second bankruptcy filing in the US and liquidation. The sources said the going-out-of-business sales would start early next week.

And so this would be it for another huge US retailer that had been bought by private equity firms, had then been gutted and stripped off assets, which left the debt-burdened retailer no means to invest in and build a vibrant online business and a functional fulfillment infrastructure, and so it totally missed the transition of shoe sales to e-commerce.