Bakers Footwear Group is moving forward with an auction of 150 of its shoe stores across the country and plans to keep 63 stores open if a court approves a new financing commitment.
St. Louis-based Bakers filed for bankruptcy last month and said it would either close about 150 stores or liquidate all of its stores if it didn’t secure financing.
In court filings, Bakers said it now has an $8.5 million financing commitment from Salus Capital Partners for its working capital needs to move forward with its reorganization plan. Bakers also modified its store closure list to eliminate a store in Las Vegas that has closed, bringing the number of stores set for auction to 150. Read more on St. Louis Post-Dispatch.