June 19, 2017 / 8:52 PM / in 7 months

Retailer Payless warns creditors may jeopardize restructuring

By Jim Christie Discount footwear retailer Payless ShoeSource in court papers on Friday called for keeping its restructuring plan on track after its unsecured creditors threatened to press claims against its private equity owners.

Payless said its official committee of unsecured creditors is trying to make an end run around the company’s exclusive right to craft a restructuring plan by raising the prospect of litigation over the plan’s releases for Golden Gate Capital Inc and Blum Capital Partners.

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