Nine West owner files for bankruptcy protection

Comments
Tupungato / Shutterstock.com

The Canadian operator of the Nine West shoe store chain has filed papers for bankruptcy protection amidst $32.2 million in owed debts to various suppliers and business partners.

Sherson Group Inc., based in Toronto, operates 47 Nine West retail stores in Canada employing over 500 people. Court documents say the company owes $32.2 million to over 60 lenders, suppliers and businesses.

The company, which is leased the Nine West name from New York-based Nine West Group Inc., owes the Bank of Montreal $4.7 million, $3 million to a Toronto private investment firm BDC Capital and the Nine West Group Inc. $19.1 million.

Image: Sneakers / Shutterstock

SEE ALSO: 5 shoe stores in Vancouver for sneakers

Sherman Group Inc. first purchased five Nine West shoe stores in 1999 and has opened new locations every year. Their website also states they were selected as a Regional Finalist in Canada’s 50 Best Managed Companies program for 2007.

Around the Web

About the author

Author Avatar
Jill Slattery Jill Slattery was born and raised in Vancouver, where she also earned an Arts degree from UBC in English and Creative Writing. She is an avid TV-watcher and a shameless Taylor Swift fangirl. Jill is a Staff Writer at Vancity Buzz. Contact her at jill@vancitybuzz.com
@jillslattery

Facebook Conversations

BACK TO TOP
BACK TO TOP