A joint venture between Tiger Capital Group, LLC and SB Capital Group, LLC will begin liquidating over $30 million of inventory from 150 Bakers Footwear Group stores nationwide on Fri., Nov. 9 and continue through the end of the year.
St. Louis-based Bakers Footwear Group sells a wide range of private-label and national-brand dress, casual and sport shoes, along with boots, sandals and various accessories for young women. "With discounts on the stores' fresh, in-season merchandise and clearance goods ranging up to 50%-off, this represents fantastic savings for consumers—especially heading into the holiday season," said Michael McGrail, Managing Director of Tiger Group. The companies will also be selling the fixtures and equipment from many of the stores.
Bakers Footwear Group filed for Chapter 11 protection last month in the U.S. Bankruptcy Court in the Eastern District of Missouri. At the time of the filing, the retailer operated a total of 213 stores in 34 states. "The company has received financing commitments to continue operating the remaining 63 stores in hopes of reorganizing around a smaller business," noted Jim Thieken, Senior Vice President at SB. "If such a refinancing does not occur, Tiger Group and SB Capital would then liquidate the inventory in those locations."
Approximately 1,325 store and district personnel have been retained to assist the joint venture in operating the 150 stores through the completion of the sale process.
For a list of the 150 locations being liquidated, go to: http://tigergroupllc.com/bakers-sale
About Tiger Capital Group, LLC