Shoes.com announced that it will be shutting down operations. The company said it will take all three of its e-commerce properties – Shoes.com, OnlineShoes.com and ShoeME.ca – offline, along with closing the two shoes.com brick-and-mortar stores in Vancouver and Toronto.
Employees were made aware of the decision on Friday morning, and have been compensated through the end of the month. The company said it is working with its secured lenders to determine the process to liquidate assets and currently intends to assign some or all of the group companies into bankruptcy.
A limited group of employees will stay on through the next few weeks as the company winds down all operations.
