Walking Co. Details Ch. 11 Emergence

Walking Co. Details Ch. 11 Emergence
A Walking Company mall location.

The Walking Company Holdings Inc. said it plans to emerge from bankruptcy protection in late April. 

The company, which initially filed for Chapter 11 in December, said in a statement released Monday afternoon that a confirmation hearing for the bankruptcy protection emergence will take place on April 23. It then expects a reorganization plan to be confirmed and funding secured in order to emerge from Chapter 11 during the week of April 26.

The Walking Co.’s goal is to keep 207 of its 214 stores open and pay off all its debt, thanks to plans worked out via its landlords, vendors, shareholders and banks. 

In December, the firm had told Footwear News it planned to close as many as 90 unprofitable stores. The firm also received $10 million in new capital at that time.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s