Aldo Taking Over Bakers Footwear Leases

Photo courtesy of Creative Commons

Aldo will assume 47 of Bakers Footwear Group’s store leases, as well as furniture, fixtures and equipment in those stores, for $2.25 million.

Aldo U.S. Inc. had notified Bakers on Oct. 18 that due to the St. Louis-based company’s bankruptcy, it wanted to terminate a purchase agreement it had reached with Bakers in August to buy 52 Bakers shoe stores for up to $6.375 million in cash. The lease agreement would settle that dispute and terminate the purchase agreement, according to the filing made Wednesday with the Securities Exchange Commission.

Read more on St. Louis Business Journal.


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