Chernin's Shoe Outlet LLC, the discount footwear retailer, is going out of business. The Chicago-based chain filed for Chapter 7 bankruptcy, listing assets of between $500,000 and $1 million and liabilities of between $1 million and $10 million. Chernin's operates 19 locations in Illinois, Indiana and five other states, according to court documents. Ten are in the Chicago area, mostly on the South Side and in southern suburbs.
The original Chernin's, founded in 1907, operated large stores in the Chicago area filled with shoes at discount prices long before the concept became widespread. It earlier filed for bankruptcy in 1999. The store was reborn in 2003 when former Chernin's executives, including current CEO Randy Shifrin, bought the rights to the name and rolled out smaller shoe stores in the Midwest.