Daily News: October 4, 2012

Bakers Footwear Files for Chapter 11; Crystal Provides DIP Loan

Bakers Footwear Group, Inc. announced that it is restructuring its business operations through a formal Chapter 11 reorganization process. The company sought the protection of the Chapter 11 Bankruptcy Court in the Eastern District of Missouri.

Bakers Footwear listed assets of $41.9 million and debt of $59.5 million in its Chapter 11 documents.

Prior losses and recent lower than planned sales have placed increased pressure on the company