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Article Date: February 2018
Word Count: 188

Sheikh Shoes Readies Exit Plan with Fewer Stores


The exact number of stores that will emerge from the one-time 126-store chain is undetermined but it is estimated to be 60-70, contingent on landlord negotiations, in an effort to reduce expenses for the liquidity-challenged retailer. Meanwhile, it continues to have a liquidation plan, but has consistently described this as a backup plan required by the creditors, and its intention is to reorganize and emerge as a smaller chain of urban stores.

 

At this point, it has lined up a more favorable lending deal from Nike that is giving it access to merchandise for the ... Log in to view full article.

 


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