Even with vital breakthroughs in conform deals, industrywide challenges leaked into 2017, creation it a difficult year for many conform brands and retailers.
Heading to a failure justice during a raging pace, some sealed down for good and others sought proxy financial service for restructuring efforts.
Here, we round adult some of a biggest shoe and conform association bankruptcies of 2017.
- Shoes.com — The year started off on a green note for a Canadian shoe e-tailer and former Zappos competitor, that abruptly announced during a finish of Jan that it would take all 3 of a e-commerce properties — Shoes.com, OnlineShoes.com and ShoeME.ca — offline. It also pronounced it would tighten a dual Shoes.com brick-and-mortar stores in Toronto and Vancouver, Canada. After a resources were seized as a form of corporate bankruptcy, a Shoes.com domain was snapped adult by Walmart’s ShoeBuy.
- BCBG — Not prolonged after, BCBG Max Azria Group sealed 120 of a stores and sought Chapter 11 insurance after consistently unwell to move down poignant debts. As partial of a failure protection, a company, founded by conform engineer Max Azria, perceived $45 million in new financing — and was after acquired by Marquee Brands.
- Wet Seal — Once seen as a teenage mall staple, Wet Seal sealed a doors for good after filing for failure for a second time in dual years this February. The retailer, that built a picture on a “California Cool” aesthetic, is now handling exclusively online.
- The Limited — The once-popular tradesman of women’s attire was forced to start a year by shutting all 250 stores and slicing some-more than 4,000 jobs. By February, a association was strictly broke — nonetheless private equity organisation Sycamore Partners purchased a e-commerce business and egghead skill during auction for $26.8 million.
- Aerosoles — In September, women’s comfort shoe code Aerosoles announced skeleton to restructure after filing for Chapter 11 failure insurance due to a superb loans. The association pronounced a reorganized business will concentration on e-commerce, indiscriminate and general businesses.
- The Tannery — When they filed for failure this year, owners of The Tannery and The Tannery Outlet Store estimated that they due between $1 million and $10 million. Some of a some-more renouned conform brands due income by a association enclosed Gucci, Valentino, Lanvin, Adidas and Ugg.
- True Religion — In a center of a summer, True Religion sought bankruptcy protection to revoke a debt by some-more than $350 million. While a company, famous essentially for a glitzy denim, reached rise recognition in a mid-2000s, it struggled to find a patron bottom as styles changed.
- Payless ShoeSource — The low-price family-footwear tradesman sought Chapter 11 insurance in Apr though fast re-emerged in August, putting the association in a singular category during a time when a outcome for many struggling retailers that have taken that track has been distant different. Payless, that had 4,400 stores in 30 countries and set out to tighten about 400 during a start of a failure proceedings, now has 3,500 brick-and-mortar outposts. The formerly debt-saddled organisation pronounced it was means to strew about $435 million in saved debt around a process. Its post-bankruptcy plan emphasizes a concentration on Hispanic consumers.
- Shiekh Shoes — Shiekh Shoes, a sneaker tradesman formed in California, also filed for Chapter 11 bankruptcy insurance after racking adult what in some cases were million-dollar debts to shoe companies such as Nike, Timberland, Adidas, Puma and Vans.