Shoe Pavilion to Liquidate

October 27, 2008
SGB Update

Shoe Pavilion, which filed for bankruptcy in July, plans to close all its stores after 29 years in business. The California retailer last week commenced GOB sales at its remaining 64 locations.


The GOB sales are being conducted by a joint venture group consisting of Great American Group, LLC, SB Capital Group, LLC, Tiger Capital Group, LLC, and Hudson Capital Partners, LLC. The sale is expected to last 10-12 weeks with some stores closing sooner.


Shoe Pavilion expects the sales to bring in $36.3 million, the company said in court papers. Under a sharing agreement with the liquidators, it is to receive 27.7% of the retail price of the liquidated merchandise and 75% of the proceeds from sales of furniture, fixtures and equipment.


Leaseholders at some of Shoe Pavilion’s locations objected to the liquidation, saying the company was in default under its leases.

Shoe Pavilion To Liquidate

October 20, 2008
SGB Update

Shoe Pavilion, which filed for bankruptcy in July, plans to close all its stores after 29 years in business. The retailer said on Monday that it has commenced a going-out-of-business sale in all 64 of its locations.

The going-out-of-business sale will be conducted by a joint venture group consisting of Great American Group, LLC, SB Capital Group, LLC, Tiger Capital Group, LLC, and Hudson Capital Partners, LLC. The sale is expected to last 10-12 weeks with some stores closing sooner.

“Consumers will benefit from the extreme discounts on every item in the stores until all the merchandise is sold, Danny Kane, managing member of Tiger Capital Group, said in a statement.

U.S. Bankruptcy Judge Maureen Tighe approved the liquidation order Oct. 17. Gordon Brothers Retail Partners LLC in bankruptcy court proceedings for the task.

Shoe Pavilion expects the sales to bring in $36.3 million, the company said in court papers. Under a sharing agreement with the liquidators, it is to receive 27.7% of the retail price of the liquidated merchandise and 75% of the proceeds from sales of furniture, fixtures and equipment.

Leaseholders at some of Shoe Pavilion’s locations objected to the liquidation, saying the company was in default under its leases.

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