The Walking Company Holdings, Inc. said that the unsecured creditors committee, established as a result of the company’s voluntary filing for chapter 11 bankruptcy protection, has agreed to support the company’s plan of reorganization filed last week and not pursue other alternatives.
“With this positive result, we are now looking to emerge from chapter as early as mid April,” stated Andrew Feshbach, CEO of the Company.
Working closely with its bank, landlords, vendors, and shareholders, the company has been able to restructure its balance sheet and long-term financial obligations. As a result, the company submitted a reorganization plan on February 2, 2010 to keep 207 of its 214 current store locations open and pay off all of its debts and future obligations to trade creditors.
