timberland field boots Bankrupt Bakers Footwear liquidating 21 Los Angeles
The going out of business sales involve 70 percent of the group Bakers and Wild Pair mall based stores, which are familiar to shoppers throughout Los Angeles and Orange counties.
Bakers Footwear Group sells a private label and national brand dress, casual and sport shoes, along with boots, sandals and various accessories for young women.
discounts on the stores fresh, in season merchandise and clearance goods ranging up to 50 percent off, this represents fantastic savings for consumers especially heading into the holiday season, Michael McGrail, managing director of Tiger Group, said in a statement.
The companies will also be selling the fixtures and equipment from many of the stores.
The closing came as unsettling news to Hillary Newton, who has been a regional manager at Bakers for the past three years. She took over six Southern California stores two weeks ago.
be with Bakers through next Friday then I hope the liquidation company will keep me on because I in charge of 20 stores, she said.
There have been layoffs at the corporate level but store employees will be retained until the liquidation ends, she said.
The company filed Chapter 11 bankruptcy at the beginning of last month. At the time of the filing Bakers operated 213 stores in 34 states.
company has received financing commitments to continue operating the remaining 63 stores in hopes of reorganizing around a smaller business, Jim Thieken, senior vice president at SB said in a statement. such a refinancing does not occur, Tiger Group and SB Capital would then liquidate the inventory in those locations.
Robert Kleinhenz, chief economist at the Kyser Center for Economic Research in Los Angeles, said Bakers was a niche retailer with a narrow product offering. The stores focused on items for women between the ages of 17 and 29.
are so many more options today for consumers to choose from that going to a speciality store selling shoes is limiting, Kleinhenz said. Although we do not pre screen comments, we reserve the right at all times to remove any information or materials that are unlawful, threatening, abusive, libelous, defamatory, obscene, vulgar, pornographic, profane, indecent or otherwise objectionable to us, and to disclose any information necessary to satisfy the law, regulation, or government request. We might permanently block any user who abuses these conditions.