Bakers shoe store chain files for Chapter 11

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A deadly May twister may have punched a hole in Joplin and Duquesne two years ago, but the resolve to repair it will help other communities stand strong when they face similar disasters. That was the message of state and national diginitaries to a crowd of about 2,500 who observed the second anniversary of Joplin’s devastating May 22, 2011, storm during a ceremony Wednesday in Cunningham Park.

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October 3, 2012

Bakers shoe store chain files for Chapter 11

Anonymous From The Associated Press The Joplin Globe Wed Oct 03, 2012, 03:17 PM CDT

ST. LOUIS — Bakers Footwear Group on Wednesday filed for Chapter 11 bankruptcy protection citing weak sales and mounting losses.

The St. Louis company, which runs 215 shoe stores in 34 states across the country, ran low on cash and defaulted on one of its major credit agreements. Bakers filed in the Eastern District of Missouri.

It plans to continue an existing plan to reorganize the company by selling up to 52 leases to Aldo U.S. Inc., closing other stores and selling off merchandise from closed stores.

Pending court approval, the company has obtained financing that will allow it to operate while it restructures. Its 215 existing stores remain open and there are no changes to normal customer policies.

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