A&G Realty Partners LLC has been retained to handle the liquidation of Bakers Footwear Group Inc.s remaining 56 retail stores. An auction for the store leases is expected to be held on Feb. 18, with a deadline to submit bids to A&G Realty by February 21. Founded in 1929 under a different name, Bakers Footwear Group stores target women between 12 and 29 years old, selling merchandise including private label and national brand dress, casual and sport shoes, boots, sandals and accessories.
Bakers real estate has begun to create interest among various shoe retailers, particularly those interested in access to premier locations in some of the top malls in the country, said Michael Jerbich, a Partner at A&G Realty Partners, who is managing the court-supervised sale process.
Bakers Footwear Group, once a leading mall-based retailer of shoes for young women, filed for Chapter 11 bankruptcy protection in October 2012, case no. 12-49658, because of declining sales. Before the St. Louis-based footwear retailed filed its bankruptcy petition it operated 236 Bakers and Wild Pair shoe stores in 37 states.
U.S. Bankruptcy Court Charles Rendlen III for the U.S. Bankruptcy Court in St. Louis approved the Chapter 7 order on Jan. 15, 2013, allowing Bakers Footwear Group to conduct going-out-of-business sales at its remaining stores, including the liquidation of its retail properties.
Bakers intellectual property assets are being marketed by investment banking firm Consensus Advisors.
Consensus Managing Director, Thomas Scotti, said: Bakers Footwear Groups core tradenames have been in use for 90 years. The Company has sold billions of dollars of shoes to young women from stores all over the U.S. and from its successful website. The Company has a customer list of 1.5 million names, many of whom are active and engaged customers of the brand. Parties interested in acquiring the intellectual property should contact Consensus at 617-437-6500 or firstname.lastname@example.org.