By  on October 4, 2012

Bakers Footwear Group Inc. on Wednesday filed for Chapter 11 bankruptcy court protection in St. Louis.

In doing so, the firm defaulted on a $30 million secured credit facility that it obtained in June with Crystal Financial. Crystal provided debtor-in-possession financing of $22 million, but required that a restructuring plan be in place by Nov. 2, or the retailer will have to find a buyer.

To access this article, click here to subscribe or to log in.

To Read the Full Article

Tap into our Global Network

Of Industry Leaders and Designers

load comments
blog comments powered by Disqus