Shoe City-YCMC Files for Bankruptcy as Arklyz Backs Out
Baltimore, MD-based ESCO, Ltd., which operates 39 Shoe City stores in MD, VA and DC and the YCMC e-commerce site, lists assets and liabilities of between $10 and $50 million, and owes money to most of the big athletic footwear brands. The Athlete’s Foot parent Arklyz Group reached a deal with ESCO to buy the company 11 months ago, but the acquisition never closed, according to the filing. Now the retailer plans to liquidate all remaining inventory through GOB sales run by Gordon Brothers, and wind down all stores by May ... Log in to view full article.