Popular shoe store Bakers has to file for bankruptcy relief

Amid slow sales, layoffs and closing stores, Bakers finally had to file for bankruptcy relief in a last ditch effort to restructure its debt and save the company.  Weak sales and heavy debt finally took its toll even though one of the secured creditors, Crystal Financial, LLC, agreed to lend the company $22 million to try to help Bakers survive bankruptcy.

The company has been in business since 1926 and has been a public traded company since 2004.  As its stock sinks lower in value, time will only tell if the company is able to survive bankruptcy and continue selling its popular shoes.

To read the entire story see, “Bakers shoe chain files for bankruptcy

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