Find in the news:
BY COUNTRY

Shoe City chain closes after 74 years



The retailer has an estimated $16 million in unsecured outstanding debt.
Baltimore-based shoe retailer Shoe City has initiated Chapter 11 bankruptcy. A petition has been filed with the U.S. Bankruptcy Court for the District of Maryland. As of early 2023, the company operated a chain of 40 stores in Maryland, Virginia and Washington, D.C. Shoe City began winding down operations and closing all outlets in the spring. 

Shoe store - unsplash

The retailer has an estimated $16 million in unsecured outstanding debt. In addition, the retailer owes more than $3 million on a Truist Bank loan. The company's liquidity problems have left it without supplies and no viable options to save the business.

Shoe City was founded in 1949 as Eileen Shoes and got its name in 1980 after a rebranding. In a new statement accompanying the bankruptcy filing, the business owners noted that "Shoe City's legacy has come to an end" after 74 years in business. 

The retailer's problems date back to 2020 when the chain lost its supply of premium sneaker brands. Shoe City had an operating loss of about $0.28 million in 2020 and increased to $1.76 million in 2021. 

Last spring, Arklyz Group, which owns The Athlete's Foot chain, agreed to buy Shoe City, but the deal ultimately fell through. The retailer's 2023 sales continued to decline, with the company owing $1.6 million to New Balance and $1.4 million to Timberland, and $1.35 million to Puma, $0.66 million to Nike and large amounts to Under Armour, Adidas, Fila, Asics and Reebok. The company ultimately decided to close all stores in bankruptcy. The retailer is expected to cease operations by May 31. 

More about shopping malls in the USA



Mar 24, 2024, China:
Apple's newest store in Shanghai opened on March 21.
Dec 25, 2023, United Kingdom:
Nestled in the historic heart of London and renowned for its Georgian-era architectural splendor.
Dec 25, 2023, USA:
The company emphasized that cost-cutting is a pivotal focus for its future endeavors.
Dec 22, 2023, United Kingdom:
The sports giant has joined a long list of international brands that will open their store doors at Trinity Leeds shopping center.
Dec 22, 2023, Austria:
The brand will present at iconic locations such as Cortina d'Ampezzo in Italy, Zermatt in Switzerland, and Hochzillertal-Kaltenbach in Austria.
Dec 21, 2023, USA:
Italian fashion house has sealed a deal to acquire the building housing its flagship store.
Friend
and Follow
Westfield Garden State Plaza GLA:2 118 718 SF
ADDRESS: 1 Garden State Plaza, Paramus, NJ 07652
Mall of Qatar GLA:1 743 753 SF
Qatar . Doha
Mall of Qatar
Liberty Center GLA:828 821 SF
USA . Cincinnati
Liberty Center
FAN Mallorca Shopping GLA:592 015 SF
ADDRESS: C/ Cardenal Rossel, S/N. 07007 Palma de Mallorca
Spain . Palma
FAN Mallorca Shopping


Edit text

Dear visitor!
If You wish to add appropriate information to this description, please make changes in the text below and they will take effect after being verified by Malls.com administrator.

SAVE CHANGES
ADD PHOTO

Dear visitor!
If you desire to add more photos to this description, please upload them and they will appear on the page after being verified by Malls.com administrator.

CHOOSE PHOTOS
SAVE CHANGES
Sign in Malls.com
Sign in please, if you already have an account

Registration



Error filling
Error filling
Error filling
Error filling
Thank you!
You will receive e-mail with registration data shortly. In email you'll find link, confirm your account by clicking on it, please.

Malls.com Team
Thank you for message!
In the near future you will be contacted the manager
for further details.

Malls.com Team
Good mall, bro!
In the near future you will be contacted the manager
for further details.

Malls.com Team
We are dissatisfied with you :-(
In the near future you will be contacted the manager
for further details.

Malls.com Team

Write to us