Footstar to pay $45mn to resolve existing claims to Kmart
09 Jul '05
2 min read
Footstar anticipates filing a revised Plan of Reorganization in its Chapter 11 case once the settlement has been approved by the Bankruptcy Court.
Absent any unanticipated additional claims, Footstar expects that the revised Plan of Reorganization will continue to provide creditors with payment in full on their claims and equity holders will retain their interests in the reorganized company.
Footstar Inc is operating licensed footwear departments nationwide in Kmart and Rite Aid Stores. The Company offers a broad assortment of discount and family footwear through licensed footwear departments operated by Meldisco. As of January 1, The Company also distributes its own Thom McAn brand of quality leather footwear through Kmart and Wal-Mart stores.
marketing@alchempro.com
