Town Shoes Canada, a trend setting mid-luxury footwear retailer, has retained SB360 Capital Partners to assist in the closure of all 28 stores operating as Town Shoes and the Town Shoes ecommerce platform. Ohio based DSW Inc., parent company of Town Shoes Limited, announced earlier this year the decision to close all stores bannered as Town Shoes. The company will focus their Canadian investment on the growth of the larger Town Shoes Limited banners including DSW Designer Shoe Warehouse, The Shoe Company, and Shoe Warehouse.
SB360 Capital Partners is one of North America’s largest and most experienced companies providing asset disposition and advisory services. SB360 will assist Town Shoes with the liquidation of all inventory and the orderly wind-down of the remaining 28 stores and the ecommerce platform. A “Closing Sale” is already underway with discounts storewide and across all categories of the ecommerce platform.
Ziggy Schaffer, Executive Vice President of SB360, said “Town Shoes in Canada is synonymous with high quality, trend-setting footwear for Men and Women. To find this level of mid-luxury product at a discount is really unheard of.”
“Town Shoes is an incomparable brand well-known throughout Canada,” said Aaron Miller, Executive Vice President of SB360. “With some of the finest labels to be found anywhere, the discounts offered during the winddown will be historic.”
Over the last couple months SB360 assisted Town Shoes with the closing of locations in the Fairview Mall and Chinook Centre. Earlier this year the firm helped Nine West Canada with the closure of 35 Nine West stores and the winddown of the Nine West Canada ecommerce store. SB360 is currently engaged in numerous US ventures and is assisting US furniture labels Thomasville and Broyhill with the closure of company-owned stores.