Clear Thinking Group, LLC, a retailing/consumer products and industrial manufacturing consultancy, and Joseph E. Myers, a partner and managing director in the firm, have been appointed liquidation trustee for athletic shoe retailer Athletes Foot Stores, LLC. The appointment became effective with the confirmation of the companys Chapter 11 Plan of Reorganization by the U.S. Bankruptcy Court, Southern District of New York.
Under terms of the engagement agreement, staff from Clear Thinkings Creditors Rights Practice will take all actions consistent with the duties and responsibilities of the liquidation trustee, as outlined in the Liquidation Trust Agreement. Such actions will include, but not be limited to, administering the disbursement of funds contained in a liquidated assets trust from which Athletes Foot Stores will pay its administrative and general unsecured claims.
Headquartered in Kennesaw, Ga., Athletes Foot Stores filed for Chapter 11 bankruptcy protection on December 9, 2004. At the time of the filing, the retailer had approximately 150 company-owned stores. The bankruptcy action does not include the approximately 590 franchised Athletes Foot stores operating under franchise agreements with Athletes Foot Brands, Inc.
