Gordon Brothers is selling its retail leases and operating going-out-of-business sales at all 39 retail store locations of Esco, Ltd., operating as Shoe City, throughout Maryland, Virginia, and Washington, D.C.
After 70 years in business, Shoe City filed for Chapter 11 reorganization on March 31, and the bankruptcy court authorized going-out-of-business sales.
The stores range in size from 2,000-to-9,900 square feet and include street front, regional mall and strip center sites.
“These leases offer a fantastic opportunity for retailers looking to expand their footprint,” said James Avallone, senior managing director, Real Estate at Gordon Brothers. “The stores offer high-traffic locations with attractive co-tenancy and favorable lease terms with options.”
Effective immediately, storewide price reductions go into effect at all locations with up to 30 percent off original prices on athletic footwear and apparel, including “new arrivals and highly sought-after brands.” Store fixtures are also being sold.
