The Chicago-based chain — the latest retailer to fall victim to the economy — filed for Chapter 7 bankruptcy protection on Monday in U.S. Bankruptcy Court in Chicago.
According to court documents, Chernin’s has assets of less than $1 million. It lists about 170 creditors, who are together owed between $1 million and $10 million.
Among the footwear firms named as creditors are Fila USA, Reebok International, Sofft Shoe, Timberland, Titan Industries and House of Brands.
The retailer, founded in 1907, was once a major footwear player in Chicago and neighboring areas.
The original Chernin’s Shoes filed for Chapter 11 bankruptcy and subsequently liquidated its assets in 1999. In 2002, a group of investors, including three execs from the former venture, launched Chernin’s Shoe Outlet, which grew to more than 20 stores. The stores featured moderately priced men’s and women’s footwear.