The Walking Company, signed a definitive agreement to purchase the assets of Footworks, a division of the privately held shoe retailer Bianca of Nevada, Inc., for approximately $10 million. Footworks operates a chain of 8 retail stores selling comfort shoes and accessories. Footworks' operations are focused on high-visibility stores in Las Vegas, Nevada. The purchase is subject to standard contractual contingencies and is expected to close within 45 days. Following closing, TWC will largely convert the stores to “The Walking Company” stores.
Commenting on the announcement, Andrew Feshbach, Chief Executive Officer of Big Dogs, said: “This is part of our plan to expand the operations of The Walking Company. The acquisition of Footworks is a strong start to that through the acquisition of these high-profile locations.”