Bakers begins liquidation sales at 150 stores today

2012-11-09T10:52:00Z 2013-01-09T13:35:17Z Bakers begins liquidation sales at 150 stores todayBy Kavita Kumar kkumar@post-dispatch.com 314-340-8017 stltoday.com
November 09, 2012 10:52 am  • 

St. Louis-based Bakers Footwear Group has begun liquidating 150 of its 213 stores today.

Among those closing nationwide are the stores at Chesterfield Mall and St. Clair Square. The going-out-of-business sales, which are expected to run through the end of the year, are starting off with discounts of up to 50 percent off.

Tiger Capital Group and SB Capital Group, who are handling the liquidation, say that about $30 million in inventory is being sold off. Store fixtures and equipment will also be up for sale at many of the stores.

Bakers filed for Chapter 11 bankruptcy last month after being unable to reverse several years of losses. A default on terms of a loan triggered the bankruptcy.

Now the company is hoping to restructure and go forward as a chain of 63 stores. Bakers is in the midst of securing financing. But if that plan does work pan out, it will liquidate the remaining stores.

For a list of the 150 stores being liquidated, go to http://tigergroupllc.com/bakers-sale.

Kavita Kumar covers retail and consumer affairs for the Post-Dispatch. She blogs on Consumer Central. Follow her on Twitter @kavitakumar.

Copyright 2015 stltoday.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

ACTIVATE YOUR DIGITAL SUBSCRIPTION
Get weekly ads via e-mail