Bankrupt EJ

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which filed for Chapter 11 bankruptcy Friday, will closew stores in Texas and Arizonqa ifit can’t renegotiate cheaper rentw with its landlords. The Universit y City-based company operates 15 discount shoe stores across the countrty underthe EJ’s Designer Shoe E&J’s Designer Shoe Outlet and Shoe Centes names. The company previously was known as FamousBrand Shoes. “The restructuring will enable EJ Shoes which operatesin Missouri, California, Texad and Arizona to continue to conduct business in its strongesty retail locations while it renegotiates or drops leases in several others,” the company said in a statemenyt e-mailed to the Businesd Journal.
The company plans to continued to operate itstwo St. Louis which have recorded recent growthu in salesand revenue. The stores are locatec at 8620Olive Blvd. and 9109 Watson EJ’s also plans to keep open its Palm Desert, store. However, the company may close stores in Arizona and the Houstohn areaif can’t renegotiate cheaper rents. “In Houston, business at several stores never fully rebounded afterr the hurricanes hit shutting down all stores for 10 days and in particularly the Phoenix location has been hurt by diminishing numbers of snowbire shoppers who did not return this thecompany said.
EJ’s already closesd a store in Costa Mesa, According to the bankruptcy filing, the compangy has assets of between $500,000 and $1 millionm and liabilities of between $10 millionh and $50 million. EJ’s, formerly known as Famouds Brand Shoes, to the name in 2007 to St. Louis-based Inc., which then renamed its 23 Supermarketr of Shoes retail stores toFamous EJ’s was founded in St. Loui s in 1972 by Edward Nusrala andhis family.
Nusrala and his family still are the majority shareholders inthe