Footwear retailer Footstar signs two contracts for reorganization

30 Nov '05

2 min read

Footstar will file an amended disclosure statement with respect to the plan and has scheduled a court hearing to review the adequacy of the disclosure statement. Upon approval of the disclosure statement, the Company will commence solicitation of the requisite stakeholder acceptances of the plan.

Bankruptcy law does not permit solicitation of acceptances of a chapter 11 plan until a Court approves the disclosure statement with respect to such plan. Accordingly, this announcement is not intended to be, nor should it be construed as, a solicitation for a vote on a plan of reorganization.

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.

Footstar Inc

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