September 19, 2017 / 10:58 PM / a year ago

Bankrupt shoe chain Aerosoles gets court OK to start shutting stores

Women’s shoe chain Aerosoles Group received initial court approval on Tuesday for shutting its stores just days after declaring bankruptcy to restructure the company to focus on selling its footwear wholesale and online.

Aerosoles, formally known as Aerogroup International Inc, filed for Chapter 11 bankruptcy protection on Friday, blaming its weakening finances on competition from industrywide markdowns, consumers increasingly shopping online and declining mall traffic.

To read the full story on Westlaw Practitioner Insights, click here:

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